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Alibaba faces a challenge from Dubai's Alibabacoin over 'magic' name

Alibabacoin, which is also known as ABBC Foundation, said it has not been trying to piggyback off the Alibaba name

Reuters  |  New York 

Alibaba
A logo of Alibaba Group is pictured at its headquarters in Hangzhou, Zhejiang province, China. Photo: Reuters

The Dubai-based cryptocurrency firm on Tuesday said Holding Ltd cannot monopolize the "magical" Alibaba name, and asked a U.S. to dismiss the Chinese e-commerce retailer's trademark lawsuit.

In a filing with the in Manhattan, Alibabacoin rejected the claim that consumers would be confused into thinking Alibaba supported its alleged effort to raise money in the cryptocurrency market.

Alibabacoin, which is also known as ABBC Foundation, said it has not been trying to piggyback off the Alibaba name, and that China's ban on initial coin offerings in September eliminated a key source of potential confusion.

"The legend of Alibaba conjures up thoughts of magic, gold coins, and 'Open Sesame,'" Alibabacoin said. "The ABBC entities are well within their rights to use a word connoting magic and golden coins in an area (Alibaba) has not used or, at the very least, has abandoned."

A for Alibaba did not immediately respond to a request for comment.

Alibabacoin asked U.S. to throw out a temporary restraining order issued by another last week, and not to issue an injunction against its use of the name.

It also argued that the court lacked jurisdiction over the case because Alibabacoin lacked sufficient ties to New York.

Alibaba's lawsuit sought a halt to further alleged infringements, plus compensatory, punitive and triple damages for alleged violations of federal and New York

The case is Holdings Ltd v. et al, U.S. District Court, Southern District of New York, No. 18-02897.

 

First Published: Wed, April 11 2018. 08:17 IST
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