Lawsuits and all kinds of other legal issues arise from time to time in absolutely every industry and there is hardly any industry that one can find that has never been the subject of a lawsuit. This is standard practice and we frequently see such events when they involve large companies, corporations and brands.
There are many instances in the crypto world where we see how two opposing parties drop lawsuits against each other and hire experienced lawyers to help them solve problems and find ways out of the worst situations. more complicated.
As many mass media recently reported, Telegram has decided to drop a lawsuit regarding the “GRAM” brand. There are a lot of details and nuances that lawyers find important and one of them is that the service will have to cover legal fees.
For some users, it seems unexpected that the famous platform drops a two-year-old lawsuit. They do this to prevent others from using the brand that many associate with the service. The part that goes with the process is that the team will be fully responsible for reimbursing the costs of the defendant’s legal processes.
Many specialists involved in the matter claim that the brand has ultimately dismissed its lawsuit. They did it on purpose. As crypto analysts say, the lawsuit was dropped because Lantah intended to use the famous mark. The intention of the first was to give the same name to its token.
The judges ruled that the courier should be required to reimburse the defendant for relatively reasonable costs. Recent data shows that the lawsuit first emerged two years ago and that the team will have to cover the costs that the two-year process has required.
Negotiations for a reasonable sum
Without a doubt, the process took a long time. There were a lot of professionals involved in various procedures required for this kind of prosecution. The press confirms that Lantah has yet to submit any official documents and that there is no documentation on the cost of the legal process.
Right now, the judges are announcing that the two sides will have to negotiate and decide on a reasonable amount of money that the messenger’s team would reimburse to cover all expenses. Officials rejected the lawsuit – there was no prejudice to the filling. This, in turn, allowed the platform to make several claims on its brand.
Lantah sent in a dismissal request with prejudice, but the team found it necessary to reject it. First, three months ago, the messenger project was abandoned. After this step, the brand dropped the lawsuit. Their next move was to settle with US authorities and the Commission early this summer. The fact that many analysts are paying attention is that the messenger team has announced plans to sponsor the launch of a blockchain network. Their plan was to do this by selling their native tokens three years ago.
Lantah, on the other hand, had formed a few months before this event. Their team had already arranged a plan to launch a cryptocurrency named “GRAM” and they had no idea it would cause so many problems a few months later.
Additionally, sources confirm that Lantah was successful in submitting an application regarding the name by 2018. However, the messenger took legal action against him in the spring after raising nearly $ 2 billion – it was done. thanks to a three-month offer from the mentioned. brand token.
Counterclaims have been filed. Documents proved that Lantah had the right to use the name since it had priority over him. Nonetheless, the judges granted the messenger’s request. This was a preliminary injunction which prohibited the company from using the mark. They also noted that the messenger’s platform began to use it in a commercial context before it was made by Lantah.