Finco Services filed a lawsuit againstFacebook in connection with infringement of trademark rights used as the Libra token logo. A lawsuit was also filed against the designer who proposed this option.
Finco Services accuses social network of illegalassignment of a trademark and unfair competition. The company claims that in 2016 Character SF was commissioned to develop a logo design for their brand and mobile online banking application, which was registered with the U.S. Patent and Trademark Office.
Among other things, thisRegistration applies to the software used to complete cryptocurrency transactions.
The problem arose because Facebookturned to the same company to develop the Libra trademark, and the designer proposed an option that is almost identical to the Finco Services application logo.
Recently major US banks also filed a formal complaint against Facebook over the Libra launch plan.
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