ConsenSys delineated the case’s conclusion as highlighting “the worth of sharply combatting meritless claims.”
Canadian blockchain startup BlockCrushr has agreed to drop an intellectual property (IP) suit against early backer, Ethereum-focused software package engineering firm, ConsenSys.
The two companies filed a joint agreement to dismiss the case on July 27 with the deal’s terms prohibiting BlockCrushr from trying to pursue the matter in future.
ConsenSys has characterised the agreement as a success for its position, stating: “BlockCrushr has discharged the suit with prejudice once review of the proof provided in discovery established that BlockCrushr’s claims were entirely while merit.”
ConsenSys’ lead counsel, Tibor Nagy, added:
“This is a very important and complete success for ConsenSys and illustrates the worth of aggressively combating meritless claims.”
Filed in July 2020, the suit claimed ConsenSys launched its “Daisy Payments” revenant payments platform the day before BlockCrushr had planned to bring its own product to market in June 2019.
BlockCrushr had received a $100,000 investment from ConsenSys and was admitted into its Tachyon accelerator program. The startup alleged that ConsenSys used trade secrets gleaned through the program to front-run its own product to promote before BlockCrushr.
BlockCrushr claimed that “every facet of its promoting, financial, technical and regulative strategy” was shared with ConsenSys throughout the Tachyon program, as well as “the source code and proprietary technical answer to its revenant payments platform.”
While IP enforcement has been seen as different to crypto’s core attribute of decentralized open source development, intellectual property matters have emerged as a progressively stock.
In June, major decentralized finance protocol Curve saw a proposal denote to its governance forums advocating that it ought to move to guard its software package license and spread profits from IP enforcement tokenholders.
In addition to protecting its position within the market, the post’s author declared IP can profit Curve by reducing competition for bug bounty payments and worker enlisting pertinent to its code.
In launching its extremely anticipated v3 iteration, leading decentralized exchange Uniswap introduced a “business supply license” into its code to guard against the unauthorized business use of its code “for up to 2 years.” The move was supposed to stop clones from showing, once SushiSwap and different rival DEXes forked its v2 code and launched lamia attacks designed to siphon away Uniswap’s liquidity throughout the DeFi summer of 2020.
Attempts by the infamous self-proclaimed Satoshi Nakamoto, Craig Wright, to stop websites from hosting the Bitcoin Whitepaper have attracted widespread pushback from the crypto community. Wright has additionally kicked off a campaign to secure as several patents as he will.
In April, the Square-led Cryptocurrency Open Patent Alliance (COPA) launched a suit requesting the U.K supreme court to declare that Craig Wright doesn’t have copyright possession over the Bitcoin Whitepaper.