Elon Musk, Twitter Slapped With Lawsuit Over X Name Change: Here Are The Details
Portfolio Pulse from Chris Katje
Elon Musk's decision to rename Twitter as X Corp has led to a lawsuit filed by X Social Media LLC for trademark infringement. The lawsuit alleges that X Corp was aware of X Social Media's trademarks and that the rebranding has caused confusion and revenue loss for X Social Media. The plaintiff is seeking three times the amount of damages since the name change or three times X Corp's profits over the same period, whichever is greater. This is the first high-profile case involving the rebranding to X, and it could be the first of many.
October 03, 2023 | 4:56 pm
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Twitter, now known as X Corp, is facing a lawsuit for trademark infringement which could potentially lead to significant financial penalties.
The lawsuit filed against X Corp (Twitter) could lead to significant financial penalties if the court rules in favor of X Social Media LLC. This could negatively impact the company's financial performance in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Meta Platforms was mentioned as one of the companies that had a trademark on the 'X' logo in some cases.
While Meta Platforms was mentioned in the context of the lawsuit against X Corp (Twitter), it is not directly involved in the case. Therefore, the impact on the company is likely to be minimal.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
Microsoft Corporation was mentioned as a company that owns trademarks related to the use of X.
Microsoft Corporation was mentioned in the context of the lawsuit against X Corp (Twitter), but it is not directly involved in the case. Therefore, the impact on the company is likely to be minimal.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20