Donuts.Ventures, global leader in high-quality, new top-level internet domains, announced it has decided to invest in Cognate.com, a leading trademark protection service that works with blockchain technology. At the moment of writing the article, the terms of the investments have not been disclosed.
Bennett Collen, co-founder and chief executive officer at Cognate, said:
“We are delighted that Donus.Ventures is investing in Cognate. When it comes to trademarks and brands, Donuts really ‘gets’ the importance (and challenges) of managing digital identity. Their insights, distribution channel of hundreds of registrars and resellers, and outstanding reputation as market innovators, will be significant assets for Cognate, as we look to further commercialize our unprecedented offering.”
Cognate allows individuals and organizations to document their trademark information and proof of trademark use. In order to do so, Cognate’s unique trademark recording service uses distributed ledger technology. Blockchain is being embraced by many enterprises all over the world and helping companies and individuals improve their services and products.
Tim Favia, senior vice president, corporate development at Donuts, explained:
“The Cognate investment is strategic for Donuts for many reasons. We believe there are compelling synergies between blockchain and domain name system (DNS) technologies, as shown by our previous investments in Netki and GeoNetwork. Today’s news about Cognate offers more proof of this exciting investment thesis.”
Cognate aims to assist brands in protecting their marks across multiple new domain names. Among the main benefits of Cognate, we can mention the following:
- The company’s trademarks, product names, logos, designs and slogans are secure.
- With blockchain technology, it is possible to create records of trademark use that are immutable, tamperproof, and time stamped.
- Ability to record use of registered and unregistered trademarks.
- Proof of use of any name, logo, or slogan used around the world, can be securely documented.
Other important points include the use of records as evidence of rights, in case of trademark infringement, the use of records as evidence in UDPR and other disputes, creation of multiple records of proof over time to prove continuing use, and many others.
“In addition, Cognate’s unprecedented trademark protection offering supports Donut’s goal to identify compelling new value-added services for our distribution partners, registrars and sellers,”
comments Mr. Favia.
“Access to this powerful channel will also help to accelerate Cognate’s time to market. It’s a win-win-win for Donuts, our registrars and for Cognate.”
Distributed ledger technology (DLT) is helping in many different industries all over the world. The potentialities of this technology are unlimited and this is proven every single time a new company decides to embrace DLT.