Stake, the share trading platform, has taken legal action against Stake.com over the use of the name 'Stake' in Australia.
👉 Background: There are two Stakes staking their claim in the fintech industry. Introducing:
👉 What happened: Now, Stake, the share trading platform, has taken legal action against Stake.com over the use of the name 'Stake' in Australia. They believe that if Stake.com expands into Australia, it will confuse Aussie consumers into thinking the two brands are long-lost twins.
👉 What else: The fear isn't unfounded. Stake.com has already tried to buy Stake trading platform's domain name from them. And Stake.com has also applied to register a bunch of trademarks in Australia such as Stake Australia, Stake Bet, and Stake Casino.
💡When a company expands internationally, it needs to consider its local namesakes.
💡Stake.com might not be available in Australia yet, but they've got a massive international presence and brand awareness. We're talking marketing deals with Formula One and Drake. So if they do come to Australia, it will likely confuse some consumers.
💡Trademark battles happen time and time again:
Sign up for Flux and join 100,000 members of the Flux family