After three years of litigation, Common Music Group (UMG) has settled a trademark dispute with investing platform OpenDeal, which does enterprise beneath the title “Republic,” and blockchain platform Opulous.
UMG had argued that OpenDeal’s use of the “Republic” title created “confusion” with the Republic Data trademark when OpenDeal started to supply purchasers fractional investing in music.
UMG and OpenDeal notified the US District Court docket for the Southern District of New York on Friday (December 13) that that they had reached a settlement in precept.
Phrases of the settlement weren’t disclosed. Choose Jessica Clarke gave the events a window of 60 days to refile the case, if the phrases of the settlement aren’t met.
UMG Recordings, on behalf of its label Republic Data, sued OpenDeal in 2021, shortly after OpenDeal started advertising and marketing a brand new funding product permitting retail buyers to purchase shares in music property.
In its unique criticism, which could be learn in full right here, UMG mentioned it didn’t have an issue with OpenDeal utilizing the Republic title to commerce in funding companies – however not when it engages in actions within the music trade. In 2022, UMG amended the criticism so as to add Opulous as a defendant. The blockchain firm partnered with OpenDeal/Republic on the fractional music funding product.
UMG argued that the advertising and marketing for OpenDeal’s music funding companies — which included entry to unique music and live performance tickets, on high of royalties paid to the fractional house owners — meant that its companies beneath the “Republic” title have been indistinguishable from these of a file label.
Republic Data’ trademark was being utilized by OpenDeal “in reference to the complete suite of products and companies that file labels sometimes provide, ranging wherever from sound recordings, merchandise, occasion tickets, promotional companies, and royalty fee companies to literal investments in artists, their music, and their ventures,” UMG alleged.
Republic Data is without doubt one of the most distinguished labels on the earth. Its roster contains stars akin to Taylor Swift, Ariana Grande, Nicki Minaj, Drake, The Weeknd, Publish Malone, the Jonas Brothers, Stevie Marvel, and John Mellencamp. It has been named Billboard’s Prime Label of the Yr quite a few occasions, together with in 2024.
In a response to the allegations, which could be learn in full right here, OpenDeal denied that it “engaged in any wrongful conduct or that it has any legal responsibility to plaintiff.”
Amongst different issues, OpenDeal argued that UMG had not “suffered any hurt” on account of OpenDeal’s use of the Republic title.
It requested the court docket to disclaim UMG’s request for an injunction to stop OpenDeal from utilizing the Republic title in reference to music actions.
The settlement got here after a court-ordered convention held between the events on December 11.Music Enterprise Worldwide
