Financial technology provider Spotware, the company behind cTrader among other products, has won a legal battle against domain names who tried to benefit unlawfully from the cTrader brand.
Spotware recently offered a netted accounts and hedged accounts under a single environment. For more about the case, here is the official press release:
Spotware Systems Ltd, developers of the cTrader and cAlgo platforms, have won their claim to six domain names after a ruling by the World Intellectual Property Organization (WIPO). The decision found in favour of Spotware’s case that the domains made unlawful use of the company’s trademark.
Acting on behalf of cTrader, London based solicitors Silverman Sherliker LLP issued the complaint to WIPO in December 2013 after finding that the domains in question were being used to publish sites that were identical to the official cTrader website (spotware.com), and were clearly intended to profit unlawfully from Spotware’s globally respected brand.
In a four page ruling by WIPO, the body found satisfactory evidence that the domains (ctraderafrica.com, ctraderasia.com, ctradereurope.com, ctraderindonesia.com and ctraderinternational.com) did in fact impinge on cTrader’s intellectual property.
Speaking after the ruling by WIPO, Chris Sherliker of City-of-London-based law firm, Silverman Sherliker LLP said, “We are satisfied with the WIPO decision that validates and upholds cTrader’s intellectual property rights, and are very glad that our client can now begin to rectify the adverse commercial consequences that they have suffered as a result of the infringement of their trade mark and other rights.”
Ilya Holeu, the Managing Director at Spotware Systems, was glad the matter had been put to rest: “We are aware that these sorts of trademark infringements happen all the time to other market participants as well – bank, brokers and other tech providers. We hope we have shown a good example of how to fight back without paying a thing to the bullying party that seeks to extort companies like ours.
“This case was as clear as day, and we’re happy that the case has been settled. We only hope that there was no confusion or damage caused to anybody unfortunate enough to have been taken in by these impostor sites. Currently, our only legitimate website for Spotware products like cTrader and cAlgo is www.spotware.com. If we launch any other official sites in the future, we’ll be sure to release a statement so as to avoid any repeat of the unfortunate ordeal. “