Press release -
Forex Bank accuses StarBid for trademark infringement
Forex Bank in Sweden accuses the Swedish penny auction company StarBid for trademark infringement and is threatening with legal actions. StarBid is a company that auctions various currencies online, with ordinary people as primary targets.
Forex Bank claims to have trademarked "more value for
money". A concept StarBid use in their marketing. Starbid´s CEO Kevin
Soltani claims that Forex Bank is quite wrong in their assertion that they have exclusive rights to the term 'more value
for money' and this will manifest itself
in the process. He also believes that it is interesting that Forex Bank, indirectly
with their accusation, consider StarBid as a threat to the
bank's operations.
Related links
Topics
- Economy, Finance
Categories
- us dollars
- swedish crowns
- penny auction
- finance
- euro
- economy
- dollar
- cheap
- british pounds
- bidding
StarBid is based on Penny Auction concept, which means that each bid in an auction is equivalent to 1 cent. All auctions are time-based and the time period restarts at each new bid so other bidders will get a chance, if nobody else places a new bid, will the last bidder win the auction. Thus it is in the same way as traditional auctions, where you buy an auction item after the last placed bid.
