X-Spot Limited, controlled by Li Lin, filed a lawsuit against Huobi Global for trademark infringement.
WuSpeak noted that X-Spot Limited, controlled by Li Lin, filed a trademark infringement lawsuit against Huobi Global in the Hong Kong Special Administrative District High Court today. Justin Sun previously claimed that Li Lin’s brother Li Wei bought the exchange’s own token, the Huobi Token (HT), many times without paying, and blocked Li Wei’s account. Following these developments, Huobi Global started to use the Huobi trademark again.
Name Rights Lawsuit Filed Against Huobi
The lawsuit alleges that X-Spot Limited holds the rights to the Huobi trademark and Huobi Gobal is using the trademark without X-Spot’s consent.
When the initial shareholders transferred their stake in Huobi Global to About Capital Management, they expressly agreed to retain the rights to the Huobi trademark and ensure that these rights are not transferred to the buyer or Huobi. The share transfer and asset settlement agreement of the parties expressly prohibits the buyer from using the Huobi trademark.
Tron founder Justin Sun made important statements about the brother of the Huobi founder on May 16. Justin Sun claimed that Li Wei received Huobi Token without paying, and stated that the HT DAO Committee would take action to address this situation. Criticizing Wei with harsh words, Sun argued that the brother of the Huobi founder was of no use to the HT community. In this process, the statements made by Justin Sun reflected positively on the price of HT and HT gained 3 percent in value.
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