CORPORATE
BharatPe, PhonePe settle trademark dispute over suffix Pe amicably
- IBJ Bureau
- May 27, 2024
Fintech unicorns BharatPe and PhonePe on Sunday announced that they had amicably settled all long-standing legal disputes pertaining to use of trademark with suffix Pe.
BharatPe and PhonePe had been involved in long-drawn legal disputes across multiple courts over the course of the last five years. The settlement would put an end to all open judicial proceedings, the companies said in a joint statement.
As a next step, parties had already taken steps to withdraw all opposition against each other in the trademark registry, which will help them to proceed with the registration of their respective trademarks, the statement said. “This is a positive development for the industry.
“I appreciate the maturity and professionalism shown by the management of both sides, working closely to resolve all outstanding legal issues and moving ahead to focus their energy and resources in building robust digital payment ecosystems,” BharatPe Chairman Rajnish Kumar said.
Both the organisations will take other necessary steps to comply with the obligations under the settlement agreement in respect of all cases before Delhi High Court and Bombay High Court.
“I am glad that we have reached an amicable resolution in this matter. This outcome will benefit both companies to move forward and focus our collective energy on growing the Indian fintech industry as a whole,” PhonePe Founder and CEO Sameer Nigam said.
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