Oracle Corporation Resumes Legal Action Against Crypto Oracle LLC ⚖️
Oracle Corporation has re-initiated a legal confrontation with the crypto venture Crypto Oracle LLC, led by its founder Louis Kerner. The software behemoth claims trademark infringements and indicates that the terms of a previous settlement are not being honored. The lawsuit was officially filed in a federal courthouse in California on November 25. Oracle’s allegations suggest that Crypto Oracle has returned to activities that violate the trademark rights held by Oracle and have disregarded a court injunction established in 2020.
This dispute traces back to 2019 when Oracle took legal action against Crypto Oracle, accusing it of capitalizing on Oracle’s recognizable trademark to promote cryptocurrency services under the “CryptoOracle” label. The initial legal battle culminated in a confidential settlement agreement and subsequent court ruling, which prohibited Crypto Oracle from utilizing the disputed name or any variations of Oracle’s trademark.
Claims of Continued Trademark Violations 🚨
Despite the prior settlement, Oracle asserts that Crypto Oracle has started operating again in a manner that breaches these earlier agreements. The recent lawsuit specifies that the crypto entity has persisted in using the “CryptoOracle Collective” branding and has kept its domain name, which Oracle considers infringing. Furthermore, the lawsuit mentions that Crypto Oracle has launched new efforts that Oracle believes also contravene the original settlement.
The renewed legal filings include accusations of trademark infringement, unfair competition, cybersquatting, and violations of the previous settlement terms. In response, Oracle seeks various remedies, including:
- Injunctive relief to stop Crypto Oracle’s activities
- Monetary damages for the violation
- Imposition of statutory penalties
- Removal or transfer of the infringing domain names
This legal confrontation underscores the ongoing disputes between established technology firms and rising crypto companies regarding the use of trademarks. Similar conflicts have been noted recently, including NanoLabs’ litigation against Coinbase over trademarks related to Nano Bitcoin and Ether futures, as well as the Dfinity Foundation’s allegations against Meta concerning its infinity logo.
Meme Creator Takes Steps to Protect Copyright 🖼️
In a separate development within the crypto space, artist Phillip Banks, creator of the viral “Just a Chill Guy” meme, has announced his intention to enforce copyright protections related to his beloved character. This decision comes after the meme—a chill, anthropomorphic dog with a signature grin and hands casually tucked in its pockets—has gained immense popularity, particularly in the cryptocurrency realm, manifesting a significant increase in value.
Phillip Banks shared on social media that he has legally copyrighted the character and intends to pursue takedown actions against for-profit uses of his work. The “Just a Chill Guy” meme gained significant traction in late 2023 when Banks shared his drawing online. Its rising fame has translated into cryptocurrency, notably with the advent of the Solana-based memecoin, $CHILLGUY.
The image of the “Chill Guy” has been instrumental in the token’s dynamic growth. Reports indicate that one trader, utilizing the wallet address 9zW, managed to turn an investment slightly exceeding $1,100 into theoretical gains surpassing $1 million. Starting with an initial investment of $233.89 during the token’s launch on the Pump.fun meme coin launchpad, the trader benefited from an extraordinary 38,800% price increase, raising the token’s market cap to $4.4 million in under 30 hours.
Hot Take: The Growing Intersection of Law and Creativity in Crypto 🔥
The unfolding developments exemplify the intricate layers of legal rights and artistic creation within the cryptocurrency landscape. As traditional corporations, like Oracle, engage in legal pursuits to safeguard their trademarks against emerging crypto entities, creators in the digital space are also increasingly asserting their rights over intellectual property. This year has emphasized the importance of protecting both established brands and creative works in the rapidly evolving world of cryptocurrency, highlighting a duality of innovation and regulation that will likely continue to shape the industry’s future.
As the cryptocurrency sector grows, the legal implications surrounding trademarks and copyright will become more pronounced, suggesting that both established entities and emerging creators must remain vigilant and proactive in defending their rights and creations.
By
By
By
By
By