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Facebook sued over cryptocurrency project logo

Some cryptocurrency enthusiasts in Colorado have been interested in Facebook's recently announced Calibra project for developing crypto, accompanied by the Libra token. At the same time, Facebook has been questioned about the development of the project by government officials as well as major financial companies like Visa, MasterCard and PayPal. Another e-commerce company is suing Facebook over the cryptocurrency, but the subject of the dispute is not the currency itself but the logo being used to advertise the project. Finco Services is also suing the logo's designer over what it claims is trademark infringement.

Finco Services hired Character SF, a graphic design firm, to develop a logo for its Current brand, the name it has given a mobile app used for online banking. Character SF created a logo for Finco that has a wavy, tilde-like symbol outlined in white. Finco has been using the logo since 2016, when it hired the company. Years later, Facebook hired the same design firm to develop the branding for its Calibra cryptocurrency project. The final result also includes a wavy, tilde-style line inside a circle. Finco has filed to register its logo as a trademark, and it accuses Facebook of violating its mark as well as unfair competition and false designation of origin.

It is also suing the design firm, which it alleges reused its work for Finco to the benefit of Facebook. The lawsuit comes as Facebook executives have faced questions about plans to get into cryptocurrency and whether the social media giant runs the risk of developing a monopoly or misuse of the currency.

Trademarks and logos can be a critical part of any business, especially those in the tech field often identified by app images and icons. An intellectual property attorney can give entrepreneurs advice and guidance on how to protect their trademarks and copyrights.

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