Success in the world of Bitcoin and cryptocurrency inadvertently leads to unwanted attention. In the case of Tech Bureau Corp, the company behind Zaif and Mijin blockchain technology, they became the victim of Akitsu, Co, Ltd. using some of their product names for commercial purposes.
Akitsu Crowdfunds By “Borrowing” Tech Bureau Corp. Resources
Both Tech Bureau, Corp and Dragonfly Pte, Ltd saw some names of their staff members, product names, materials, trademarks, and business plan abused by a company going by the name of Akitsu, Co, Ltd. All of these efforts were part of commercial activities conducted by the latter company, primarily in the field of fundraising activities using the resources as mentioned earlier.
Tech Bureau Corp. made it clear they – nor Dragonfly Pte, Ltd. – have any relationship with Akitsu, nor did they make any commitment to share their resources with this company. Additionally, the usage of the trademarks is prohibited, and there are no capital ties between the affected businesses and Akitsu. However, one of the former officers of Tech Bureau Corp. was involved on Akitsu at a previous stage in his career.
According to the information, we have received, Akitsu was founded in January of 2016, and dissolved less than a month later. To make matters even more intriguing, Akitsu founders have started a new company called Soramitsu Co. Ltd three days later. Tech Bureau Corp. and Dragonfly have no commitment to this new business either, which is registered at the same address as Akitsu once was.
Both affected companies have launched a thorough investigation into the matter, and the evidence is pointing toward a breach of confidentiality, misfeasance, or misinformation. The investigation is still ongoing at the time of publication, and more information will be revealed as it becomes available.
Investors of Tech Bureau Corp. and Dragonfly Pte, Ltd were worried about this new company using their trademarks and names of their staff members. Keeping in mind how Tech Bureau runs the Zaif Bitcoin exchange, as well as the Mijin blockchain platform, they have gotten a lot of attention in recent months. Apparently, certain individuals are looking to ride their coattails, a business malpractice that has been nipped in the bud before it could become a significant concern.
What are your thoughts on Akitsu using the trademarks and staff member names of another company involved in the Bitcoin world? Let us know in the comments below!
Source: Tech Bureau
Images courtesy of Tech Bureau, Shutterstock