Home NewsStock Market News Name trouble twins! Meta is sued by virtual reality company MetaX for trademark infringement |

Name trouble twins! Meta is sued by virtual reality company MetaX for trademark infringement |

by WOOWinvest
0 comment
Name trouble twins! Meta is sued by virtual reality company MetaX for trademark infringement |


Facebook’s parent company Meta filed a trademark lawsuit in Manhattan court on Tuesday (19th) by virtual reality company MetaX for allegedly misappropriating its Metaverse-centric name and saying the company’s operations were also affected as a result.

MetaX said in court that the company had been “heavyly wounded” by Facebook’s new name, also said its own company’s ability to operate as Meta had been “completely diminished”, accused Meta of infringing its federal “Meta” trademark and asked for a court order The social media company is prohibited from using “Meta” in goods and services that overlap with MetaX, and certain damages are required.

MetaX founder Justin “JB” Bolognino said in a statement that Meta is not only putting the company’s business at risk, but the intellectual property rights of the entire industry and the innovators who help build it.

Before the deadline, Meta (META-US) did not immediately respond to this, and its stock price rose 5.17% during the session, and its share price was tentatively reported at $175.88.

Facebook’s parent company Meta changed its name to “Meta” from the social networking platform “Facebook” of the same name in October last year, because it is optimistic that the metaverse of the shared virtual realm will replace the current Internet.

MetaX is a company specializing in the development of immersive experience technologies such as virtual reality (VR) and augmented reality (AR). As early as 2017, MetaX had a partnership with Facebook at the time, and Facebook executives had The experience of praising MetaX is amazing.

MetaX said that Meta’s business of the Metaverse and related VR and AR technologies overlaps with its own business. It believes that Meta’s rebranding is an intention to drive it out of the market, and the public has confused the two companies, believing that each other is a subsidiary relationship.

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy