Yuga Labs settled a legal dispute with the developer who created the websites hosting 'copycat' collections of Bored Ape Yacht Club NFTs.
by Yuga Labs of acting as a"central part of a business venture which created and commercialized websites and a smart contract" to sell intentionally misleading RR/BAYC NFTs to the average consumer. This, they said, amounted to"textbook trademark infringement."“I am happy to have resolved the Yuga Labs, Inc. v. Lehman trademark lawsuit in the Northern District of New York," said Lehman said in an emailed statement.
"We are pleased that Mr. Lehman acknowledged his role in assisting former cohorts, Ryder Ripps and Jeremy Cahen, to infringe on Yuga Labs’ trademarks in developing, marketing, and selling counterfeit NFTs," a Yuga Labs spokesperson said.Despite settling with Lehman, the disagreement continues between the NFT heavyweight, Ripps and Cahen.
“We believe that creators, especially those in the nascent web3 space, must be able to rely on the law to protect their work against IP theft," Yuga Labs said in a statement. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.By signing-up you agree to our
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