Yuga Labs announced settling the lawsuit against Thomas Lehman alleging violation of NFT trademarks. The suit involved Yuga Labs against the website and smart contract developer, claiming sales of misleading Ryder Ripp’s project (RR/BAYC).
Strict Conditions in NFT Trademark Suit
As the parent entity of Bored Ape Yacht Club (BAYC) NFT, Yuga Labs confirmed dropping charges against Thomas Lehman. The suit alleged that Lehman’s input in the Ripps’ project involved 10000 NFTs replicating names, traits, and features utilized in the BAYC NFTs.
The trademark infringement features a complaint lodged on January 20 2023, for coding the RRBAYC RSVP Contract alongside rrbayc.com platforms to sell the copycat NFTs. The settlement banned Lehman’s involvement in the BAYC Mark. The agreement prohibits Lehman from destroying materials he controls or possesses that have BAYC Marks. Further, the agreement prohibits Lehman from burning the RR/BAYC NFT holding.
Acknowledging Yuga Labs Input in NFT Space
Lehman ruled out harboring intentions to disparage Yuga Labs’ brand in his acceptance speech of the resolution. In particular, he decried the disparaging statements directed toward Yuga Labs and its founders. Instead, he praised the positive input that Yuga Labs brought within the NFT space.
Also read:Yuga Labs representatives expressed pleasure in the settlement reached with Lehman. The executives confessed satisfaction in the acknowledgment by Lehman alongside Ryder Ripps and Jeremy Cahen to infringe on the trademarks jointly. Further, the cohorts contravened Yuga Labs’ trademark, particularly in developing, marketing, and selling counterfeit NFTs.
Seeking Legal Protection Against IP Theft
Meanwhile, the settlement does not extinguish the existing case involving Yuga Labs against Ryder Ripps. The defendant alleges that the project amounts to an intellectual property infringement.
Ripps’ defense lodged in October 2022 featured an anti-SLAPP motion terming the NFT project as guarded via free speech and satire-inspired work. The court would deny the Ripps’ motion in December 2022. The decision prompted Ripps to file counterclaims against the defendant – Yuga Labs.
Meanwhile, the NFT space is set to take a new shape through a renewed focus on information, intellectual property, and trademarks. In its explanation, Yuga Labs considers that creators, particularly those within the Web3 ecosystem, should seek the law provisions to safeguard their work against intellectual property theft.
Editorial credit: mundissima / Shutterstock.com
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