Finco Services Sues Facebook and Calibra For Libra Logo Trademark Infringement
The problems that Facebook has related to its upcoming Libra stablecoin simply do not stop. Finco Services of Delaware has filed a lawsuit against the popular social media company and it's subsidiary Calibra in New York, related to the logo of the Libra project.
According to the reports, Facebook is being sued for reusing a design that already belonged to another party. Finco Services affirms that Facebook infringed trademark rules, and has engaged in unfair competition and used the logo illegally.
Basically, in 2016 a company called Character SF was hired by Finco Services to design a logo for a brand. The logo that was designed was basically the same one that is being used by Libra right now.
While it is unclear why Facebook is using the same logo as the company, Finco affirms that it's logo is registered with the U. S. Patent and Trademark Office and that it can prove that it had the logo way before Facebook ever thought about creating it's crypto asset.
As soon as the people at Finco discovered that the logo was nearly identical, they contacted Calibra, which simply ignored them. Now, they are trying to convince the court that their logo was copied.
The case could go either way as the two logos are very similar, but not necessarily identical. Because of this, it is still way too early to speculate on which company is going to win in court. The only certainty is that Facebook is having a lot of problems recently.