BRICS Tether

Trademark attorney predicts legal battles as Twitter rebrands to X.

The company formerly known as Twitter could face significant litigation costs as a result of its recent rebranding to “X,” according to trademark attorney Josh Gerben. Gerben, who specializes in intellectual property, predicts that lawsuits related to trademark infringement could emerge in U.S. courtrooms in the coming weeks, with potential legal challenges on an international scale for years to come. Companies like Microsoft and Meta already hold similar “X” trademarks for their products and services, potentially giving them grounds for legal action against X.

Gerben highlights the unprecedented decision to discard the valuable asset of the Twitter brand in favor of a new trademark. He suggests that if Elon Musk had retained the Twitter brand, the company could have avoided spending any money to justify the trademark for any new endeavors under the brand. The rebranding was announced by Musk, former CEO of Twitter, on July 23. The iconic blue bird logo was replaced by a black and white “X” logo. X Corp, established by Musk in March, is the parent company of Twitter. At the time of publication, the platform’s search bar and “tweet” button still bore the former namesake.

The rebranding has faced criticism from many users on the platform, who believe it was not well thought out. Musk himself struggled to provide a definitive answer regarding the new name for a retweet in a Twitter thread. However, he has hinted that X will offer a range of services that could impact a significant portion of the global financial system, suggesting that users should expect to conduct their “entire financial world” on the X platform.

This rebranding controversy is the latest in a series of changes by Twitter under Musk’s leadership. Musk took over the social media platform in October 2022 following a $44 billion agreement. Since then, he has implemented changes such as firing members of the executive team, phasing out the platform’s legacy verification system (blue checkmarks), and introducing paid verification options.

Despite Musk briefly changing the Twitter logo to that of the Dogecoin shiba inu in April, it was seen as a temporary decision. The rebranding to X may result in changes to the company’s logo on its headquarters in San Francisco, replacing the bird with the letter “X.”

Under Musk’s leadership, Twitter has experienced a decline in U.S. advertising revenue. Reports suggest that advertising revenue dropped by approximately 59% from April to May compared to the same period in 2022. Linda Yaccarino, a former NBCUniversal executive, took over as CEO in May. However, Musk continues to actively post on the social media site.

In conclusion, Twitter’s rebranding to X could lead to significant legal challenges and potentially costly litigation. Despite criticism from users, Musk hints at ambitious plans for the X platform, which he believes will have a substantial impact on the global financial system. As the controversy surrounding the rebranding unfolds, it remains to be seen how the company will navigate the legal landscape and address the concerns of its users and competitors.

Source link