BAYC Imitation Opposes Yuga Labs Trademark Application
Key Points:10 trademark registrations at Yuga Labs were the subject of opposition notices by one of the creators the Bored Ape Yacht Club imitation FFT collection RR/BAYC.
Yuga Labs’ trademark applications were filed in the second half 2021. They include a variety of BAYC images, logos, and branding that could be used on digital goods like NFT-based artwork, trading card, and wearables to the Metaverse.
Cahen’s action comes three days after Yuga Labs reached a separate agreement with Thomas Lehman (creator of the RR/BAYC website, smart contracts)
Ten trademark registrations belonging to Yuga Labs were the subject of opposition notices by one of the Bored Ape Yacht Club creators RR/BAYC. All trademark applications are now “pending” as of this writing.
“The Trademark Office has preliminarily accepted Yuga Labs’ trademark registration applications, and we look forward for their full approval in the due course,” they stated.
“Jeremy Cahen’s filings are just another attempt to distract attention from the real issue, his infringement on the Yuga intellectual properties.”
Cahen lists a number of “grounds to disagree” with Yuga Labs’ filings. In example, Cahen asserts that because BAYC NFT sales gave the owners “all rights” to the digital images, the firm “abandoned any rights” to specific brand and artwork designs.Additionally, he asserts that Yuga Labs does not have the legal right to certain skull designs because the company allegedly transferred the ownership to the ApeCoin decentralized autonomous organization (DAO) in March 2022.As the NFTs should be registered and categorized as securities under federal law, Cahen also contends that Yuga Labs failed to disclose a “bona fide purpose to legitimately employ” the trademarks in its filings.BAYC’s authors In June, Yuga Labs filed a lawsuit against digital artists Ryder Ripps and Cahen for utilizing BAYC images in the RR/BAYC collection. In a statement, Lehman stated that he was not associated with Ryder Ripp and Cahen. Lehman dissociated himself from Ryder Ripp and Cahen in a statement.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comAnnieCoincu NewsTags: BAYCNFTNFT collectionTrademarkYuga Labs