Last week, Capital One, a financial institution, filed a lawsuit at the U.S. District Court for the Southern District of Texas against Texas-based, Capital 1 Finance Consultants alleging trademark infringement and violation.
The plaintiff alleges that the defendant has violated its intellectual property rights by making use of its widely recognized and popular mark ‘Capital One’ without permission.
Capital One, a Fortune 500 company trading on the New York Stock Exchange, has rights in the ‘Capital One’ mark dating back to 1994 and was registered in 1996 with US number 1,992,626 covering financial services.
According to the lawsuit, Capital One accuses the defendant who offers credit-score, loan, and insurance services of diluting the distinctive mark and committing cybersquatting.
The plaintiff alleges that the defendant started using the Capital 1 Consultants name in mid-2017.
A cease and desist letter was reportedly sent to Capital 1 in January of this year to transfer the domain name and withdraw its corporate registration or amend it to something not similar but got no response.
A follow up letter was reportedly sent to the defendant in February where Capital 1 responded, refuting Capital One’s claims and refusing to comply with its demands.
“Capital One has spent billions of dollars over the years, and spends hundreds of millions of dollars annually, advertising, marketing, and promoting its Capital One-branded services through a variety of national media, including television, radio, Internet, direct mail, and print advertisements. Between 2008 and 2017, the financial institution spent more than $12.7 billion advertising and promoting the Capital One name and mark, including more than $2.2 billion in 2018 alone” said the claim.
The plaintiff seeks injunctive relief, cancellation of Capital 1’s corporate registration, an order requiring the destruction of all infringing products and a transfer of any infringing domain names.
Capital One Financial Corporation v. Capital 1 Finance Consultants LLC et al
|Texas Southern District Court|
|Nature of Suit||Trademark|
|Case Filed:||Jun 28, 2019|