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Facebook sued over Libra logo

An online banking and software development company has filed a trademark infringement lawsuit against Facebook. The California-based social media giant is facing possible legal sanctions for using a logo that is allegedly virtually identical to one protected by a trademark issued in 2016. The logo at the center of the dispute is a tilde design that Facebook is using to promote its proposed Libra digital currency.

Finco Services, which offers app-based online banking services under the brand name Current, claims in its lawsuit that it retained the services of a San Francisco design firm to create a logo for its debit cards and mobile phone apps. The same company, which is also named as a defendant in the litigation, designed the Libra logo for Facebook. Finco says that the two logos are virtually identical and accuses Facebook of unfair competition and trademark infringement.

It is not clear whether or not Facebook was aware of the Finco logo or the Libra logo's alleged similarity to it. According to media reports, the trademark issued in 2016 specifically covers digital currency transactions. The lawsuit is another setback for Facebook as it works to launch its Libra currency. Facebook CEO Mark Zuckerberg has been called to appear before a Congressional committee on Oct. 23 to answer questions about the company's cryptocurrency intentions.

Attorneys with trademark infringement litigation experience may seek to avoid this kind of dispute by taking steps to ensure their clients do not inadvertently use slogans, branding or logos that are already protected. When unintentional infringement does occur, attorneys may seek to avoid expensive and costly lawsuits by negotiating an amicable settlement.

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