PayPal, a California-based digital payment company has filed a legal complaint against one of the biggest digital payment startup of India, PayTM.
So What PayPal has accused PayTM for?
Well, You might have noticed that the logo of PayTM is Very much similar to PayPal.When we talk about similarities, here we are talking about the colors used in the logo.
According to PayPal the PayTM’s Logo is “deceptively and confusingly similar” to its own, which is likely to cause confusion among consumers. As per the trademark notice, PayPal has been using its trademark since 1999 while Paytm was established in 2010 and the company had advertised its trademark registration in July. As part of the trademark registration process in India, a company needs to advertise its logo and wait for a period of four months, during which anyone can raise objections or oppose it.
These similarities cause a likelihood of confusion… There is no reason for the Applicant (Paytm) to adopt the identical colours and colour scheme other than to take advantage of the reputation the Opponent (PayPal) has built up into this combination in connection with its popular services,” the complaint reads.
Paytm declined to comment on the allegations.
All this happened when a lot of new users were joining their hands with PayTM as a result of Demonetisation of Currency that happened in the Country on 8th November 2016.
Here is the complaint file which is being sued by PayPal for those of you who are intresting in reading.[wp_ad_camp_1]
So how does will it affect PayTM?
What do you Think? Well let us know in comments below.