Loopt, a location-based mobile friend finding service, has pulled out the big guns and filed a lawsuit against Loop’d Network, an action sports-related social network, citing trademark infringement because of their similar name. Loopt says the similarity in the names causes confusion for consumers, and while the company is obviously asking the courts to prevent Loop’d from using their name any longer they’re taking things a step further and is seeking damages and three times the profits that Loop’d Networks has earned.
Apparently the two companies have been in talks since last fall, attempting to work out a resolution, but obviously that hasn’t worked out too well. Loop’d apparently feels that customer confusion isn’t an issue being that the two companies perform very different functions and aim at different audiences. Loopt has powerful backers though. They’ve raised almost $20 million from the likes of Sequoia Capital, Y Combinator, and New Enterprise Associates. Loop’d on the other hand has only been able to raise $1.9 million from unnamed angel investors.
via moconews
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