Oracle has accused a blockchain venture capital startup of trademark infringement and cybersquatting in a new lawsuit.
According to the report, Oracle is suing the New York City-based CryptoOracle for the close similarity in naming. CryptoOracle is a blockchain-focused venture capital startup, with no affiliation to the high-profile Redwood Shores Oracle.
Oracle is accusing CryptoOracle of cybersquatting in an attempt to give the impression that it is affiliated with the larger software company. Oracle accuses the startup of intentionally choosing its name to confuse consumers.
According to the filing, CryptoOracle seeks to:
“trade on Oracle’s reputation as an innovator and leader within the technology industry, and to evoke among consumers the goodwill that Oracle has built in its own famous brand.”
CryptoOracle LLC is owned by Louis Kerner, a former Goldman Sachs executive who founded the company in 2017. The startup is an advisory firm geared towards businesses and entrepreneurs in the industry of blockchain.