Lightning Labs Taro Project Temporarily Frozen For Trademark Infringement
Blockchain startup Tari Labs has won a temporary restraining order against bitcoin developer Lighting Labs' Taro protocol that is supposed to allow users issue and move assets on the Lightning Network.
The motion reportedly restrains Lightning Labs from making external updates to its Taro protocol and from announcing the next stage of the protocol until a hearing on any motion for dissolution of the temporary restraining order occurs following a sufficient rebrand.
"This whole thing could’ve been avoided if they changed the name. We cannot allow a competitor to sow confusion in the marketplace by trading on the good will associated with our name and offering nearly identical services under a nearly identical name, which we were using first."
Tari Labs is backed by investors including Pantera, Blockchain Capital and Multicoin.