I don’t know if you all have heard about this. Recently, I came across a token named Merit Circle (MC) which is about to migrate to the beam blockchain. I was really surprised at the moment thinking that there would be a big event happening on the Beam blockchain, that Beam would be used to power web3 games and it would be relisted on binance again. However, as I digged in more on this news it turned out that the beam mentioned in the news is not the Beam Privacy, although it is likely they would use BEAM or BEAMX as their ticker when they sell on binance somewhere this November. More on this news can be read here:
My question is: is it legal for two different projects having the same name/ticker? as far as I know that the Beam Privacy emerged first before this so-called second beam thus having the right for the Beam name/ticker, am I right? please give me enlightment all. thanks!
Yes, it’s legal, because we don’t have the copyright for the name “Beam” (because it’s essentially impossible to copyright).
The exchange needs to decide if they give MC BEAM the same ticker or give them another ticker, such as BEAMX like MEXC and Binance did it: | Trade BEAMX/USDT BEAMX on MEXC Exchange.
Which is annoying, because when we eventually want to list BEAMX on MEXC, we get another ticker…
I just did a quick search on this copyright thing (please note I’m not an expert on legal things, though), and according to this article: Patents, Trademarks, and Copyrights: The Basics that names/words can be trademarked. I hope that the Beam Foundation has trademarked the name Beam so that they can take legal action on this.
Anyway, regardless the name Beam has been trademarked by the Beam Foundation or not. I think It’s still unethical for a project to use another project’s name, especially in the open source community, right?