Starbucks Enters Trademark Dispute with a Small Alaska Company

Starbucks Enters Trademark Dispute with a Small Alaska Company

Starbucks is clashing with a small Alaska company named Mountains & Mermaids over a trademark term. The former who is a Seattle-based coffee giant said that Siren’s Brew for which the later filed a Trademark Application is too similar to its branding.

As the Anchorage Daily News reported, Starbucks wants the U.S. Patent and Trademark Office (USPTO) to reject the application filed by this small Wasilla-based Mountains & Mermaids Company. Applied late last year, the Alaska business has been seeking to get Trademark Registration for the term ‘Siren’s Brew’ for its products since that time. It has branded its apparel with the image of a siren or mermaid holding a cup of coffee and recently began using the design on coffee.

Starbucks in an opposition filed in August this year said that it applied to trademark ‘Siren’s Blend’ for its coffee products in February 2019, but the USPTO has refused the application as of May, based on a possibility of confusion with Siren’s Brew.

Starbucks continued by saying that the long-time use of siren in its branding doesn’t end up with its famous green logo. Instead, it has extended the brand’s use of the term as per its filing. Employees use the word to refer to its business and products, added Starbucks.

Starbucks further in an emailed statement announced that for near about half a century, it has invested in establishing a relation between a siren and coffee. Besides being an integral part of the Starbucks’ logo since the brand got established in 1971, the siren is the face of the company to the world.

On the other side, Monica Hamilton owning Mountains & Mermaids along with her daughter named Sarah said that they were shocked to know about Starbucks’ opposition in regards to their trademark application. She added that there is no confusion at all. They are neither interested in interfering with Starbucks’ business nor want them to interfere with theirs.

Launched in 2017, Alaska Company is an online retailer with many of its products sporting nautical imagery. The term ‘Siren’s Brew’ of this company applies to the products such as hoodies mugs, stickers, etc., that include the design of a siren or mermaid holding a coffee cup. The quote incorporated in the design asserts that a siren needs her morning coffee before a day of wrecking ships and drowning men.

Eric Pelton, a lawyer on behalf of Mountains & Mermaids, said that whatever term Starbucks’ workers use within the company to describe their business is not the same as a Registered Trademark. Mr. Pelton also said that he plans to submit a response to Starbucks’ opposition to the USPTO next week. For more visit: https://www.trademarkmaldives.com

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How to Use Copyrighted Material for Advertising Free from legal Concerns?

How to Use Copyrighted Material for Advertising Free from legal Concerns?

All may not be aware of this, but advertising is as old as commerce and civilization. Nearly 3, 000 years ago, people tended to promulgate their products and services on clay tablets, through town criers, etc.; however, advancements in technology have changed the ways people advertise their business today. Companies nowadays beckon potential customers by using pamphlets, brochures, billboards, radio and TV communications, commercial text messages, email advertisements, and many other advertising tools.

With the availability of so many options to advertise products and make consumers buy them, more and more businesses are moving towards advertising, thus turning the industry comparatively more competitive than ever before. Besides competitive, advertising appears a costly affair for most entrepreneurs, startups, and SMEs (small and medium-sized enterprises). Ultimately, the limited budget and the human tendency to exaggerate quick benefits in the cut-throat challenging era make people advertise their business by using the copyrighted products of others. It is because creating new items often demands high investments in comparison to accessing copyrighted ones, but advertising in this manner may lead to Copyright Infringement issues. Hence, if you want to use others’ copyrighted materials in your business ads, then make sure to do so while keeping the legal concerns at bay. It is easily possible by getting information about the legal policies on how to use copyrighted items without facing legal concerns.

Copyright law and Advertising

Copyright law facilitates the creator of creative work with exclusive rights that help them in preventing unauthorized users from using their work. The copyright rights limit people from making profits by accessing any material without obtaining the owner’s permission. According to this law, the person who violates the copyrights of others could have to pay a fine as a penalty for infringing someone’s Intellectual Property Rights (IPRs). Since the same policies apply to the advertising industry also, there’s a need to be cautious while using copyrighted materials in your ads. Some copyrighted items that you might desire to use in advertising include:

 

  • Pieces of literature
  • Song recordings
  • Photographs
  • Art

Copyright Basics

As copyright rights are country-specific, they often vary from nation to nation. Therefore, before using any copyrighted work in advertising, you should be familiar with its copyright status as per that nation. For instance, the copyright law of the US states that the tangible items created after 1978 are capable of obtaining Copyright Protection automatically. The owners neither have to display a copyright symbol on them nor need to register them with the U.S. Copyright Office. On the other side, materials manufactured before 1978 should either have a copyright symbol or be registered. Becoming familiar with the copyright status of any item in that particular nation isn’t enough; make sure to know about their use as well.

Commercial Use

Most people desire to use the copyrighted material for commercial purposes but such usage, whether in advertising or any other area, is not permitted without the owners’ permission. Nevertheless, the items published before 1923 are acknowledged under the public domain and therefore, allowed to be used in commercials. Note that the materials published after 1923 get the copyright protection that lasts for 95 years from the time of publication and 120 years from the day of creation and can’t be used (without permission) during these periods.

Fair Use

Fair use is one of the most noticeable exceptions to U.S. copyright laws. It enables people to use copyrighted works, but only if doing so benefits the public, cultural activities, or educational contexts. For instance, an ad that can help people quit smoking can use a quote, sentence, or paragraph from a copyrighted medical textbook. Ads that educate the public about bullying, drug use, etc., also fall under the same category, i.e., fair use. Although this category permits the use of copyrighted materials, you must display a clear purpose of the advertisement associated with public welfare and use the snippets of the items. If you fail to do so, then you may fall into legal issues. Besides, remember that no law provides apparent information about how much use of a copyrighted item is permissible. For example, you may use some lines of others’ textbook but not some pages of the same.

Permission for Use

As per this policy, you can use someone else’s copyrighted work in your advertising, but after obtaining a license that the licensor may provide you in exchange for a set amount. Hence, you have to determine the licensor by finding and viewing the name located next to the copyright symbol. In some cases, when there is no symbol or name on the item, you should search for the name online on the U.S. Copyright Office website. This category emphasizes money but not always, like owners of lesser-recognized work can permit you to use their work only in exchange for publicity by having their name somewhere in your ads. It means you can enjoy profitable advertising for your business that too without paying any money.

Advertisements are one of the common targets for Intellectual Property infringement lawsuits. If you are not cautious, you can lose your brand reputation and face financial losses. Here, we have tried to provide vital data that can help you protect your ads and prevent legal troubles. As prevention is always better than cure, before launching any advertising campaign in the future, be sure that it suffice both a general legal perspective and an IP perspective. For more visit: https://www.trademarkmaldives.com

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Dindigul Lock and Kandangi Saree from Tamil Nadu Get GI Tag

Dindigul Lock and Kandangi Saree from Tamil Nadu Get GI Tag

Geographical Indications Registry has recently granted GI (Geographical Indication) tag to Tamil Nadu’s Dindigul locks and Kandangi sarees, thus providing the Dindigul Lock, Hardware and Steel Furniture Workers Industrial Co-operative Society Limited and the Amrar Rajiv Gandhi Handloom Weavers Cooperative Production and Sales Society Limited, that applied for the certification, with exclusive rights over these products.

Dindigul Locks

The high quality and durability of these locks are the reasons; why they are famous worldwide, why the manufacturing city is known as Lock City, and why most government institutions such as hospitals, godowns, temples, and even prisons use these locks rather than the machine-made ones.

Started by Sankaralingachari brothers, the lock-making industry in Dindigul is nearly 150 years old, spread over a wide area of 5 villages in the district and consists of more than 3,125 lock manufacturing units located in Kodaiparailpatti, Kamalapatti, Nagelnagar, Nallampatti, and Yagappanpatti.

The artisans working in this industry use the raw materials like MS flat plates and brass plates procured from the nearby towns such as Salem and Madurai to make around 50 varieties of Dindigul locks. Every lock made by them possesses a unique style and an unusual name like Mango Lock, Export Lock, Door Lock, Almirah Lock, Excise Lock, Trick Lock, Drawer Lock, Square lock, Mango Seven Levers Lock, and Mango Nine Levers Lock.

The availability of plenty of iron in this region is the reason behind the growth of this industry.

Kandangi Sarees

Manufactured in Karaikudi taluk in the Sivaganga district, Kandangi sarees are the hand-woven sarees characterized by their large contrast borders. Sometimes, the borders are so large that they cover nearly two-third part of the whole saree, which is 5.10 m-5.60 m long.

These cotton sarees are being made by the adept weavers of Devanga Chettiars for women of Chettiar community, also recognized as Nakarathars or Nattukottai Chettiars for the last 50 years. They take over a week to make a single exquisite Kandangi saree.  As these cotton sarees well suit the summer season, customers often buy them in bulk.

Traditionally, Kandangi sarees were famous for their unique borders of temple checks design and were all brick-red, black, and mustard, a combination that flatters almost every type of complexion.

Deputy Registrar of Geographical Indications Registry, Chinnaraja G. Naidu, told that Dindigul lock and Kandangi saree have received the GI tag on August 29, 2019, and GI for these products was filed by GI Advocate Sanjai Gandhi and Chennai-based Intellectual Property Attorney. For more visit: https://www.trademarkmaldives.com

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TSMC Says Allegations by GlobalFoundaries Are Baseless

TSMC Says Allegations by GlobalFoundaries Are Baseless

Taiwan Semiconductor Manufacturing Company, TSMC has recently responded to the Patent Infringement case filed against it by an American semiconductor fabrication foundry known as GlobalFoundaries (GF).

TSMC said that GF is acting like a patent troll and its allegations are baseless. The contract maker of semiconductors continued by saying that it has obtained more than 37,000 patents worldwide and a top 10 ranking for three consecutive years for the US patent grants since 2016, thus considers itself as one of the leading semiconductor foundries.

Besides, the world’s largest foundry said that it is disappointed to come across a situation where a peer opts to file a meritless case instead of competing.

On 26th August 2019, GlobalFoundries filed the complaint claiming that TSMC, along with many of its customers, and makers of several products, have infringed 16 of its patents encompassing various aspects of chip manufacturing. GF claimed that the 7 nm, 10 nm, 12 nm, 16 nm, and 28 nm nodes of TSMC illegally use its Intellectual Property (IP). Apple, Broadcom, NVIDIA, MediaTek, Xilinx, and Qualcomm are some other names that the company named among the defendants.

The complainant had filed the case in the Regional Courts of Dusseldorf, and Mannheim in Germany, the U.S. Federal District Courts in the Districts of Delaware and the Western District of Texas, and the US International Trade Commission (ITC). Looking for damages from TSMC, it wants the courts to prohibit the products that use infringing semiconductors in not only the US but Germany as well.

On the other hand, TSMC rejected the allegations and proclaimed that it would defend itself in the courts. The foundry reveals that it not only has been granted 37,000 patents throughout its history but also spends billions of dollars on R&D every year.

Typically, high-tech firms counter-sue one another in Intellectual Property infringement lawsuits, so it will not be surprising if TSMC decides to sue GF. TSMC undoubtedly feels that the allegations are baseless and therefore, is planning to defend itself against GF but what if any of the three courts disagree? Then, TSMC and its clients would work out a royalty arrangement with GF. For more visit: https://www.trademarkmaldives.com

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IPRs and Human Rights: An Arduous Relationship

IPRs and Human Rights: An Arduous Relationship

Intellectual Property Rights (IPR) and human rights are two laws that never infringed on the domains of each other before the 90s. In the beginning, they grew separately and hardly interrupted one another. However, later, it has been found that they are interrelated in several ways. One, human rights and IPRs can conflict with each other. Second, these two laws may co-exist with one another. Such factors usually raise a concerning confusion whether IP and their rights are compatible with human rights or harmful to them.

IPRs and Human Rights Complement Each Other

IP rights of authors and creators should not restrict the cultural participation and scientific access, rather expedite them. Since IPRs try to create a balance between incentives on one side and access on another, the human rights and IPRs in this sense are compatible with each other. Assuredly, we can view the compatibility between these two laws by balancing positions and interests.

IPRs and Human Rights are Different

By turning the pages of the past of these two laws, we can conclude that IP rights were not a priority for human rights professionals and vice-versa. Moreover, IPRs professionals were and are focused on broadening the scope of IP protection by incentivizing and rewarding the innovative activity, while human rights experts focus on the establishment of norms that can prevent human rights abuses. As the IP’s economic aspect emphasizes rewarding individuals for their efforts, protecting their products, and considering inventions as extensions of their personalities, it promotes individualism.

In contrast, human rights are different and ensure that not only an individual rather large groups or communities can also be the authors or inventors. This law recognizes the value of IP products as an expression of human creativity and dignity and thus, mainly considers the protection of these expressions and common goods. That’s why it focuses on the interest of the entire society instead of only the individuals. On the contrary, IPRs stay limited only to the titular’s interests.

IPRs and Human Rights are Conflicting

Researchers often delay the publication of their inventions to defend their IP. It means IPRs in the scientific domain lead to more privatization and lessening of scientific publications, thus acting as a barrier in scientific progress. The continuously growing range of such people who want to protect their intellectual property in this way can result in a threatening situation where everyone obstructs the other, thus ultimately leading to reduced innovations.

Not only this, but IPRs are obstacles to another human right, i.e., right to health also. For instance, taking undue advantage of Intellectual Property Protection, the patent owners usually set their costs much higher than generics. Due to this, many people turn unable to access useful and apt medicine.

Finally, we can see that IPRs usually put negative impacts on the essence of human rights. Besides, the administrators who are responsible for the deliverance of IPRs often found neglecting their duty in the perspective of morality. These officials estimate that taking moral and ethical preoccupations into consideration are neither useful nor imperative, despite that these preoccupations are lifelines of human rights.

Conflict Resolution

Are you looking for ways to resolve the conflict between human rights and IPRs? Well, the appropriate solution will be the result of many efforts. Firstly, human rights authorities must create some specific interpretations of cultural, economic, and social aspects so that they can work with policies of the TRIPs agreement. Secondly, all administrators, whether IPRs or others, should focus on the human rights perspective that demands to keep both the owners as well as consumers of IP products at an equal level. Thirdly, the government must consider imposing maximum standards for Intellectual Property Protection instead of just supporting minimum standards. Last but not the least, the international forums, such as the World Trade Organisation (WTO), and the World Intellectual Property Organisation (WIPO) should analyze the new laws and doctrines with human rights viewpoint. It is the only approach by which human rights and IP Rights will co-exist with each other. For more visit: https://www.trademarkmaldives.com

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Tirur Betel Leaf Receives GI Tag

 

Intellectual Property

Geographical Indications Registry has recently granted Geographical Indication (GI) tag to Tirur Betel Leaf from Kerala. Also known as Tirur Vettila, the betel leaf is cultivated in Tirur, Tirurangadi, Tanur, Kuttippuram, and nearby areas of Malappuram district in Kerala. The high content of chlorophyll, protein, and antioxidant capacity is what makes this product unique. Appreciated for its mild stimulant, digestive, and medicinal properties, Tirur Vettila is mainly used in making pan masala.

The Tirur Vettila Ulpadaka Sangam expedited by Intellectual Property Rights (IPR) Cell, Kerala Agricultural University (KAU) had applied for the GI tag in 2018.

Director of Research at KAU, Indira Devi, said that the Tirur Vettila consists of Eugenol, the essential oil contributing to its pungency. Moreover, the shelf period of this unique product is comparatively more than other betel leaves. She added that the considerably more antioxidant capacity in Tirur Vettila adds to its medicinal properties and this leaf is more pungent in comparison with many other cultivars. Additionally, she said that the GI Registration is expected to upsurge the marketability and demand of the product.

Recognized under the registered owner – Tirur Vettila Ulpadaka Sangam, Malappuram, this GI-product is a collective initiative taken by the IPR cell of the KAU, State Department of Agriculture Development and Farmers’ Welfare, and Tirur Vettila farmers, and has now reached its ultimate destination.

Pharmaceutical Sector

Coordinator at IPR Cell-KAU, Dr. Elsy, suggested that the probabilities of using these betel leaf extracts in the pharmaceutical industry are to be explored more. Vettila is an ingredient of ‘Thampooladhi thylam’ and is used in the manufacturing of indigenous medicines to treat cough. She noted that the betel leaf traditionally is famous for its usefulness in treating several diseases. Vettila, if chewed after food enhances digestion. Betel leaf, in India, is routinely served at the time of social, religious, and cultural occasions.

Area under Cultivation

Tirur Vettila, currently, is cultivated over an area of 22 hectares. Nearly 60% of the overall production is firstly transported to Delhi, Mumbai, Itarsi, and Jaypore through rails and then from there, it is marketed to Afghanistan, Pakistan, and Bangladesh.

Before this initiative of the IPR Cell of the KAU, the Geographical Indications Registry has granted the GI tag to many other products, such as:

  • Kaipad rice,
  • Pokkali rice,
  • Marayur jaggery,
  • Vazhakulam pineapple,
  • Chengalikodan nendran,
  • Wayanad Jeerakasala rice,
  • Central Travancore jaggery,
  • Wayanad Gandhakasala rice.

Furthermore, efforts to bring the Kuttiattoor Mango amongst the GI tag gainers are in process.

The Government of India has awarded the IPR Cell of Kerala Agricultural University (KAU) for its efforts in the facilitation of Geographical Indication Registration. For more visit: https://www.trademarkmaldives.com

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Turkish Government Seeks to Create its Trademark for Health Care Tourism

Trademark Registration

Health Minister of Turkey, Fahrettin Koca has recently proclaimed that the Turkish government now aims for its trademark in health care tourism and that the process has already begun.

With the upgraded services featuring competent experts, cutting-edge technology, and affordable prices, Turkey has attained a significant momentum in health care tourism and has also become a continuously progressing center of attraction in recent years.

The minister had informed Anadolu Agency’s (AA) Finance Desk that they would make a notable launch in the next one or two months. He added that over 500,000 health tourists, i.e., patients arrived in Turkey last year and the figure will possibly exceed this year. Turkey will soon target a remarkably larger share of worldwide health tourism.

He further revealed that they would possess health attaches in nations they have planned as targets in the new period. For this, they want to establish advanced diagnostic centers in regions that they determined as targets. In other words, the Turkish government will be doing what no other country holding a share in health tourism has done.

Designating a desire to open diagnosis centers that will conduct follow-ups and check-ups when patients operated in Turkey return to their countries, Koca emphasized they are planning a foundation that will be a public property with the title international Health Services Inc. (USHAS) and work with the energy of the private sector.

USHAŞ was intended to promote the services related to Turkey’s health tourism abroad and started executing its works in February 2019. According to Koca, they are planning to deliver diagnosis and follow-up treatment via medical centers in various countries, including Ukraine, Russia, and Azerbaijan in Asia, and Qatar, Bahrain, and Iraq in the Middle East.

The Turkish Statistical Institute had reported that in 2018, around 551,748 tourists showing an increase of 27.3% in comparison to the 2017’s visited Turkey to get health-related services. The minister said that the revenue of Turkey, which comes from health tourism, has extended to $1.5 billion, but they desire to increase it by five times till 2030 and this is why they are looking for new Trademark Registration. Tourists in the context of health prefer Turkey because of many reasons, like reasonable prices, short waiting periods, quality, technical conditions, and high-end facilities. Turkey holds a leading place in several medical services, such as dental care, plastic surgery, organ transplants, and the treatment of cardiovascular diseases. For more visit: https://www.trademarkmaldives.com

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EA files a Trademark Application for Plants vs. Zombies: Battle for Neighborville

Intellectual Property

EA, the second-largest gaming company in America and Europe has recently filed a trademark for the name “Plants vs. Zombies: Battle for Neighborville.”

Named as Electronic Arts, EA is an American video game company having its headquarter in Redwood City, California.

Popped up on the records of EUIPO (European Union Intellectual Property Office), the filing doesn’t provide much information other than the date (9th August 2019) on which the firm filed this trademark and confirmation that it got registered against the NICE classifications 9 and 41. It is predictable enough that the former classification pertains to downloadable computer game software through wireless devices or global computer network; video game software, whereas the latter one relates to entertainment services, like giving temporary use of non-downloadable game software; provision of information associated with electronic computer games presented via the internet. These aspects affirm that this trademark is associated with a downloadable computer game, classified under an entertainment service.

Are you aware of Plants vs. Zombies lore? If yes, then you probably know that Neighborville is the name of the series’ setting in the Plants vs. Zombies comics. We can assume that it would be a shooter from the Garden Warfare segment. However, we attained a good idea of its name from the trademark filing, thanks to it.

What does the Trademark Registration imply? 

Of course, like many other Intellectual Property Rights (IPRs), trademarks only exist in theory, and this shows that trademark alone hardly means anything. In other words, simply because anything has been trademarked doesn’t mean that it will surely come to fruition. But in this case, it is possible that the Plants vs. Zombies: Battle for Neighborville, which incidentally is the name of the locations existing in Plants vs. Zombies comics will be our upcoming foray with Plants vs. Zombies Garden Warfare. Besides, if the report that the EA representatives have provided to investors earlier this year is still correct, then we can predict that the new game will release before April 2020.

No doubt that the company has sent out alpha playtest invites for the new Plants vs. Zombies shooter at the end of the last month, but this currently codenamed Picnic game has yet not been officially announced. For more visit: https://www.trademarkmaldives.com

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6 Simple Steps to File a Utility Patent in the US

Copyright Registration

When it comes to patents, inventors often refer to utility patents. It is because these patents cover the most prevalent categories of invention. They grant protection to new ideas that produce unique and useful products. As the utility patents can prevent a lot of inventions from being used by other people or companies without permission of the owner, a majority of Patent Applications emphasize these types of patents.

For an invention to obtain utility patent protection, it must fall under one of the following categories:

  • Machines that often consist of moving parts, for example – an engine.
  • Processes that are in the form of stepwise methods, for example – approach to do any business.
  • Useful items that include no or a few moving parts, for example – a screwdriver
  • Compositions of matter that encompass compounds or mixtures, for example – drugs.

If you are having any of the above-given types of inventions and wish to get it patented, then you should meticulously go through the below steps.

Six Fundamental Steps to File a Utility Patent

Note that, the process to file a utility patent is country-specific and therefore, varies from nation to nation. The step-wise process provided here is according to the USPTO (United States Patent and Trademark Office).

  1. Understand patent purpose

The prime purpose of a patent is to empower the inventor with the right to prevent others from manufacturing, using, selling, and importing his invention. It is an exclusive Intellectual Property Right (IPR) that the patentee can enjoy for a specific period. The duration for which the patents are valid is territorial-bound, for example –in the US, a utility patent lasts for 20 years from the date of filing the application.

  1. Maintain invention record

It is imperative to maintain the invention record, including appropriate diagrams and descriptions; important dates, like the date of creation; reason behind the origin of the idea or invention and; signature of at least 2 witnesses supporting the invention.

  1. Ensure that the invention meets the standards set for patenting

Make sure that the idea or invention for which you are seeking a utility patent should suffice the patentability criteria. For this, you should consider the following points:

  • It is not possible to obtain patent protection for an invention from an idea.
  • The work and the efficiency of your idea or invention matter a lot.
  • The invention must be unique, i.e., it should not appear similar to any existing one.
  • The invention or idea must be non-obvious and should hold an excellent subject-matter.
  1. Commercialize potential

The patenting process involves enormous costs. Hence, it is essential to ensure that your invention is worth patenting; otherwise, you can face tremendous monetary loss due to the rejection of your patent application. To prevent such occurrences, you need to be familiar with the market in which you are planning to launch the product. Besides, your invention should hold the ability to stand out in millions to make money via licensing and other ways.

  1. Conduct the patent search

Patent search plays a vital role in the process of obtaining patentability as it can help you in determining whether your invention is new or not. That’s why you should carry out a patent search that includes fetching all the relevant data and information from the U.S. Patent Office and many other journals.

  1. Be aware of the documents required

For obtaining utility patent protection for your invention, you need to be sure for providing the following documents:

  • Form 1: Application for allowance of the patent
  • Form 2: Provisional or complete specification
  • Form 3: Undertakings under section 8
  • Form 4: Declaration as to inventorship
  • Form 26: If filed through a patent agent, then the power of attorney

 

When should you file a utility patent application for your invention?

It is crucial to file your patent application as soon as you could after completing your invention. It is because as per the Patent Law, the first person who applies for the patent is always considered as the inventor, no matter whether he is the real inventor or not. Apart from this, the timely filing of the utility patent application can serve you with many other benefits. Once applied for the patent, you can confidently protect your invention with a label “patent pending” as it will keep the potential infringers away. It will also provide you with a profitable option to seek royalty payments from the person or company who used your invention during the pending period, including the provisional period as well. For more visit: https://www.trademarkmaldives.com

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New Patent Application Shows Walmart is Seeking its own Cryptocurrency

Intellectual PropertyThe retail giant Walmart emerges as the latest entity to move into the space of cryptocurrencies by applying for a new patent focusing on Walmart’s currency. It appears that the retailer is emphasizing a high-profile invasion into the stablecoins arena with the fiat-pledged cryptocurrency.

Walmart filed a Patent Application covering a way for making use of the digital coins tied to the traditional fiat cryptocurrency, which could enable faster and cheaper transactions along with reliability, – as per the filing published on 1st August 2019 by the U.S. Patent and Trademark Office (USPTO).

Walmart Apollo, in its application, described that the currency whose formation would be based on blockchain technology could provide a fee-free or fee-minimal place to store wealth, which could be converted to cash or spent at retailers.

The retailer also proposed that sometimes, the digital currency could even remove the needs for credit or debit cards with persons themselves being credit cards to their digital value banks. It continued by saying that the invention could:

  • Offer an open-platform value exchange for crowdsourcing work and purchases.
  • Store the purchasing history of customers, thus providing an option to save on frequent purchases.

The digital currency could appear as a profitable alternative that allows low-income households to manage wealth at institutions, which can supply a majority of the products they need on a day-to-day basis.

Customer Restrictions

Blockchain technology is not new for Walmart; instead, it is already being used by the company to keep track of products through its supply chain. For instance – in 2018, the retail giant partnered with IBM for tracking food globally along its supply chain and improving food safety.

No doubt that the retail giant is making noticeable efforts in this field. But, an email in which Kory Lundberg, a spokesman for Walmart wrote that they don’t have any plans for this patent, shows that even if approved, Walmart doesn’t appear to launch a coin similar to Libra.

Powered by blockchain technology, Libra is a new global currency proposed by Facebook.

Facebook (FB) has also set its vision on cryptocurrencies, by announcing (this year in June) that its Calibra would soon propose a digital wallet for Libra. However, in its second-quarter earnings release, FB told the investors that certain aspects could interrupt the Libra’s release. Previously, the launch of Libra was expected to take place in the next year. For more visit: https://www.trademarkmaldives.com

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