Two $850 Million Cryptocurrency Offerings Satisfy Commercial Use Requirement

The court granted plaintiff’s motion for a preliminary injunction prohibiting defendant from using the name “GRAMS” on its cryptocurrency and rejected defendant’s contention that plaintiff’s contract for cryptocurrency did not constitute use in commerce. “Undeniably, [plaintiff’s] GRAM has not yet issued. No matter. The purchase agreements are not mere agreements to invest some time in the future. Executed, binding purchase agreements ‘pursuant to which [plaintiff] has already collected over $1.5 billion,’ and through which purchasers own vested subscription rights in GRAMS, demonstrate a use in commerce. [Plaintiff] certainly thought it had engaged in commerce when it recorded those sales with the SEC and the purchasers certainly thought they had engaged in commerce when they sent [plaintiff] their money. Moreover, the law supports the notion that the taking of orders, even without filling those orders, is a use.”

Telegram Messenger Inc v. Lantah, LLC, 3-18-cv-02811 (CAND 2018-08-08, Order) (Charles R. Breyer)

2018-08-10T11:30:02+00:00August 10th, 2018|Docket Report, Trademark|