The company behind Unicoin has filed a lawsuit against Uniswap Labs in a New York federal court. The primary objective is to cancel the UNI trademark registration and obtain a court declaration confirming that its web domains do not violate cybersquatting regulations. This legal battle highlights the importance of intellectual property in the crypto ecosystem.
The origin of the legal conflict between Unicoin and Uniswap
TransparentBusiness Inc., which operates commercially under the name Unicoin, has decided to take Universal Navigation Inc., the entity known as Uniswap Labs, to court. According to documents filed in the Southern District of New York, the company is seeking an official declaration proving that its trademark does not infringe on the trademark rights of the terms UNI, UNISWAP, and UNICHAIN.
The lawsuit asks the court to cancel the registration of the U.S. trademark for UNI. This legal move underscores the increasing competition and the need to protect corporate identities within the digital asset sector.
Prior demands and termination letters
The conflict escalated after Uniswap's legal advisors sent three warning letters accusing Unicoin of trademark infringement, dilution, and cybersquatting. Uniswap demanded the cessation of use of the "UNI" root domain and the transfer of key domains. In response, Unicoin opted to preemptively pursue legal action to defend its position.
Intellectual Property and Web3: A Necessary Debate
The lawsuit also seeks to confirm that Unicoin domains do not violate U.S. cyber eviction law. This litigation highlights the ongoing challenge of reconciling decentralized technology with conventional legal frameworks regarding trademarks and patents.
The outcome of this litigation between Unicoin and Uniswap Labs could set a relevant precedent for trademark management and the protection of project identity in the cryptocurrency industry.
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