By: Varun Nair
Nike has filed a trademark and service mark application with the United States Patent and Trademark Office for protection over the brand ‘Cryptokicks.’ The document reveals the company’s intention to launch its own cryptocurrency and associated services.
Nike Intends to Launch Own Cryptocurrency
Nike Inc., one of the leading and most popular manufacturers of shoes in the entire world, has filed a trademark and service application seeking protection over the “Cryptokicks” brand on April 19th.
The document’s filing basis falls within section 1B, which means that it’s filed based on the company’s bona fide intention to use the trademark in commerce.
As the identification of some of the services Nike intends to work on, the document outlines “financial services, namely, providing a digital currency or digital token for use by members of an online community via a global computer network.”
Commenting on the matter was trademark attorney Josh Gerben, who said:
There has to be somewhat of a business idea behind it. If you submit things just for the purpose of submitting things, it will tie up the trademark system unnecessarily. Nike does not have a history of filings that are speculative.
Reportedly, the attorney has also said that there’s a 30-day period to appeal the application. If approved, however, Nike would have reserved the “Cryptokicks” name for a period of four years, during which it would need to launch a commercial product with that name.
Gerben added:
There’s a requirement that you commercially use a trademark to get the rights to it.
Read more >> https://www.allaboutlifehacks.com/nike-files-patent-to-launch-cryptokicks-cryptocurrency/
