After three years of litigation, Common Music Group (UMG) has settled a trademark dispute with investing platform OpenDeal, which does enterprise underneath the identify “Republic,” and blockchain platform Opulous.
UMG had argued that OpenDeal’s use of the “Republic” identify created “confusion” with the Republic Data trademark when OpenDeal started to supply purchasers fractional investing in music.
UMG and OpenDeal notified the US District Courtroom 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. Decide Jessica Clarke gave the events a window of 60 days to refile the case, if the phrases of the settlement will not be 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 traders to purchase shares in music property.
In its authentic criticism, which may be learn in full right here, UMG mentioned it didn’t have an issue with OpenDeal utilizing the Republic identify to commerce in funding providers – however not when it engages in actions within the music business. 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 providers — which included entry to unique music and live performance tickets, on prime of royalties paid to the fractional homeowners — meant that its providers underneath the “Republic” identify have been indistinguishable from these of a report label.
Republic Data’ trademark was being utilized by OpenDeal “in reference to the complete suite of products and providers that report labels sometimes supply, ranging anyplace from sound recordings, merchandise, occasion tickets, promotional providers, and royalty fee providers to literal investments in artists, their music, and their ventures,” UMG alleged.
Republic Data is among the most outstanding labels on this planet. Its roster consists of stars equivalent to Taylor Swift, Ariana Grande, Nicki Minaj, Drake, The Weeknd, Submit Malone, the Jonas Brothers, Stevie Surprise, and John Mellencamp. It has been named Billboard’s Prime Label of the Yr quite a few instances, together with in 2024.
In a response to the allegations, which may 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” because of OpenDeal’s use of the Republic identify.
It requested the courtroom to disclaim UMG’s request for an injunction to forestall OpenDeal from utilizing the Republic identify in reference to music actions.
The settlement got here after a court-ordered convention held between the events on December 11.Music Enterprise Worldwide
