After three years of legal battles, Universal Music Group (UMG) has settled a trademark dispute with the investment platform OpenDeal (which operates as “Republic”) and the blockchain platform Opulous.
UMG claimed that OpenDeal’s use of the name “Republic” caused confusion with its Republic Records brand, especially when OpenDeal began offering fractional music investments.
On December 13, UMG and OpenDeal informed the US District Court for the Southern District of New York that they had reached a settlement. The details of the agreement weren’t disclosed. The court gave both parties 60 days to refile the case if the settlement terms are not upheld.
UMG, on behalf of Republic Records, originally sued OpenDeal in 2021 after the launch of its music investment product. In 2022, UMG added Opulous as a defendant, as it had partnered with OpenDeal on this product.
UMG argued that OpenDeal’s music investment services, which included perks like royalties, concert tickets, and exclusive music access, were too similar to the services offered by a record label. They believed this created confusion, as Republic Records offers similar services, such as music recordings, merchandise, event tickets, promotional services, and royalty payments.
Republic Records, one of the world’s leading music labels, represents artists like Taylor Swift, Drake, Ariana Grande, and The Weeknd.
OpenDeal denied any wrongdoing, claiming that UMG wasn’t harmed by its use of the “Republic” name. It also asked the court to deny UMG’s request to stop it from using the name in music-related activities.
The settlement came after a court conference held on December 11.
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