Law Firms

DAC Beachcroft advises on major cryptocurrency

DAC Beachcroft is advising on how to protect its brand against copycats inside and outside of the crypto marketplace

DAC Beachcroft’s technology team is advising the creator of “one of the world’s largest cryptocurrencies” on IP protection and enforcement.

The firm is advising on how to protect its brand against copycats inside and outside of the crypto marketplace.

The nature of the market means that many cryptocurrencies are created by individuals or scaling businesses, which may not have the resources to register their brand at the time of launch.

DACB’s technology and media team is “one of the UK’s largest”, with over 40 lawyers advising clients in areas of tech such as NFTs, synthetic media, cryptocurrencies, and digital transformation. 

The team includes IT, regulatory, intellectual property and data protection experts who advise on issues ranging from day-to-day contractual matters to complex special projects.

Kate Loxton, IP specialist and senior associate at DAC Beachcroft, said: “At its heart, brand protection is about protecting the goodwill and reputation of a business. 

“Trade mark registrations play their part in this, but copyright, passing off and unfair competition all have a role and can be used to prevent unauthorised use of a brand to maintain its integrity.”

Tim Ryan, DACB head of technology and media, said: “Traditional intellectual property rights still have a role to play even in the decentralised and quick-moving world of cryptocurrencies, noting that brand protection, including trademarking, benefits the market as well as the trademark holder.

“Cryptocurrency is a substantial asset class and certain investors – including institutional investors – may put sizeable portions of their capital into it. It’s important that the currencies, their creators and associated communities, can effectively differentiate themselves and avoid public confusion, abuse and even in some cases fraud.”

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