Digital Currencies

If Bitcoin Community Doesn’t Take Action, Opportunists Like Trademark Lawyer Could “Box Them In”

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An attorney in upstate New York is the first to have the bright idea to trademark the word “Bitcoin,” a move that could afford him some attractive business opportunities if the currency gains widespread popularity and the Bitcoin economy of exchanges, merchants, software, mobile apps and websites grows.

“A registered trademark in a civil law country gives the holder of the mark the exclusive right to use the mark in commerce, for a prescribed period of time, usually ten years,” the lawyer, Michael Pascazi, told Betabeat. “Anyone infringing upon the mark in those countries, where it is registered, would be subject to money damages, and an order to stop the infringing.” Mr. Pascazi is counting on those suits turning into royalty agreements, where he could license the mark to other businesses. Read More