Venture capital firm Blockchain Capital filed a lawsuit Thursday alleging a Florida company, Blockchain Capital Management LLC (BCM), has infringed on its trademark by using a similar name to operate in the financial services sector. BCM’s founder says the accused firm will soon be dissolved.
- The San Francisco-based Blockchain Capital was co-founded by crypto entrepreneur Brock Pierce and partners Bart Stephens and Bradford Stephens in 2013. The venture capital firm has invested in over 55 tokens and equities.
- Blockchain Capital’s complaint argues the alleged infringement can cause confusion and creates the possibility of the public being deceived.
- The San Francisco-based firm wants the Florida Secretary of State to either dissolve BCM or force it to remove ‘Blockchain Capital’ from its name.
- The suit may be short-lived as BCM founder Fareed Ifthikar told CoinDesk in a LinkedIn message that BCM is largely a dormant company and has no intention of fighting the case.
- “We have asked our counsel to start the process of dissolution for the aforementioned company and should be completed soon,” said Ifthikar