MTGOX Trademark Apps: Are their motives pure? They trying to corner the market?

[Advocat]

On October 14, 2011 (Japan), MtGox issued a Press Release https://mtgox.com/press_release_20111014.html, wherein, it was stated inter alia: “We would like to use this opportunity to formally announce that all trademarks related to the term “Bitcoin” filed for and obtained by Tibanne K.K will be made freely available to anyone to use for whatever purpose whatsoever, whether that be for non-profit or commercial endeavours [sic].”

The press release mentioned Attorney Pascazi http://www.pascazilaw.com, a lawyer from New York. However, it is MtGox's turn to have their true intentions ascertained.

All those interested in bitcoin or having an investment in bitcoin should ask MtGox for a: Perpetual, royalty fee, zero cost, irrevocable, non-exclusive, unlimited, license, for any and all registered, and/or common law trademarks, and/or trademark applications, worldwide, related to the mark “Bitcoin”, filed for, and/or obtained by MtGox Co. Ltd., and/or Tibanne Co. Ltd.; said mark(s) to be utilized for whatever purpose whatsoever by the licensee, without limitation.

If MtGox balks at entering into such a license, which resistance would be wholly inconsistent with their worldwide public pronouncement: Could one conclude that MtGox has no intention of actually issuing free, open, and unlimited licenses for its trademarks? One does not license a trademark by press release, such is preposterous.

If MtGox balks, could one also conclude that MtGox’s pending trademark applications, throughout the world, are part of a systematic scheme to corner and control the “bitcoin” market? What about Tradehill, and others? Will they all be shut out of the market? Is there a monopoly here in the offing? You decide. Let MtGox put their trademarks where their mouth is.

[odysseus654]

So...

From the sounds of things, you're complaining that their lawyers didn't go over their declaration closely enough?

I didn't actually know MtGox held a trademark for BitCoin.  I guess *someone* needed to though, or someone would have grabbed it and tried to sue against the common usage...

So what you're asking for is some formal declaration from MtGox which would be the trademark equivalent of http://creativecommons.org/publicdomain/zero/1.0/legalcode ?

[neofutur]

"we at Tibanne K.K in Japan have started legal proceedings "

 they say "started legal proceedings", nothing more, mtgox dont own any trademark yet, and wont be able to provide

"Perpetual, royalty fee, zero cost, irrevocable, non-exclusive, unlimited, license, for   any and all registered, and/or common law trademarks, and/or trademark applications, worldwide, related to the mark “Bitcoin”, filed for, and/or obtained by MtGox Co. Ltd., and/or Tibanne Co. Ltd.; said mark(s) to be utilized for whatever purpose whatsoever by the licensee, without limitation"

 before they effectively have it.

note to the european application : http://esearch.oami.europa.eu/copla/trademark/data/010103646

[evoorhees]

This was my comment on the issue in the main forum:

I know some are skeptical of MtGox's motives - many don't like that MtGox is trying to register trademarks.

However, I REALLY appreciate them stepping up and paying the money to do this. It is a huge service to the community to have MtGox willing to spend some of their profits on these types of fights. Kudos to them.

And to anyone who is suspicious - consider that if MtGox ever tried to corner the market by using its Bitcoin trademarks in a detrimental way, the community would drop them like a stone. It would be fully against MtGox's self-interest to so clearly abandon the trust of its userbase.

So, MtGox - thank you for fighting the good fight and good luck with these efforts.

[Advocat]

So...

From the sounds of things, you're complaining that their lawyers didn't go over their declaration closely enough?

I didn't actually know MtGox held a trademark for BitCoin.  I guess *someone* needed to though, or someone would have grabbed it and tried to sue against the common usage...

So what you're asking for is some formal declaration from MtGox which would be the trademark equivalent of http://creativecommons.org/publicdomain/zero/1.0/legalcode ?

That formal declaration is called a trademark license. It has the legal force of a contract. The licensee could pay perhaps US$1 for it to make it binding. Why did they not publish a broad license form with their Press Release for the world to see?

[Advocat]

"we at Tibanne K.K in Japan have started legal proceedings "

 they say "started legal proceedings", nothing more, mtgox dont own any trademark yet, and wont be able to provide

"Perpetual, royalty fee, zero cost, irrevocable, non-exclusive, unlimited, license, for   any and all registered, and/or common law trademarks, and/or trademark applications, worldwide, related to the mark “Bitcoin”, filed for, and/or obtained by MtGox Co. Ltd., and/or Tibanne Co. Ltd.; said mark(s) to be utilized for whatever purpose whatsoever by the licensee, without limitation"

 before they effectively have it.

note to the european application : http://esearch.oami.europa.eu/copla/trademark/data/010103646

MtGox's Press Release has expressly mentioned "filed for" trademark apps. They could license those apps today if they truly wanted to. But alas do they truly want to?

[Advocat]

This was my comment on the issue in the main forum:

I know some are skeptical of MtGox's motives - many don't like that MtGox is trying to register trademarks.

However, I REALLY appreciate them stepping up and paying the money to do this. It is a huge service to the community to have MtGox willing to spend some of their profits on these types of fights. Kudos to them.

And to anyone who is suspicious - consider that if MtGox ever tried to corner the market by using its Bitcoin trademarks in a detrimental way, the community would drop them like a stone. It would be fully against MtGox's self-interest to so clearly abandon the trust of its userbase.

So, MtGox - thank you for fighting the good fight and good luck with these efforts.

How could the community drop MtGox if they cornered the market? Isn't the point of cornering the market to gain a monopoly? Who else could sell you a bitcoin in Spain, for instance, if the mark were exclusive to MtGox in Spain? By the way they have a mark app pending in Spain as we write, which app has been opposed by a German company. I still have not seen their proposed free & open license agreement for filed & registered marks posted anywhere. Apparently, MtGox has not thought thru their bold pronouncement.

[evoorhees]

How could the community drop MtGox if they cornered the market? Isn't the point of cornering the market to gain a monopoly? Who else could sell you a bitcoin in Spain, for instance, if the mark were exclusive to MtGox in Spain? By the way they have a mark app pending in Spain as we write, which app has been opposed by a German company. I still have not seen their proposed free & open license agreement for filed & registered marks posted anywhere. Apparently, MtGox has not thought thru their bold pronouncement.

It's called voting with your dollars, and how a free market provides social feedback. If MtGox pisses the community off, we use Tradehill, or any of dozens of others. The market position MtGox enjoys can disappear in an instant. They would never jeopardize their incredible position and all the revenue they earn just to try profiting from some trademarks via non-stop court battles. Worst business plan ever.

I trust them, because I trust the long-term profit motive.