Following legal clearance, we're excited to inform you that Mastercard has been unsuccessful not once but twice in its attempts to substantiate its erroneous claims that our logo infringes on theirs.
For the past two years, we have been battling against the world's second-largest payment-processing company in the Swiss courts. On their first attempt, Mastercard lost the case before the Swiss Federal Institute of Intellectual Property and decided to appeal.
The Swiss Federal Administrative Court again decided that Savl's logo did not infringe upon Mastercard's logo and ruled against them and awarded us costs.
We always expected to be victorious because their claims were both egregious and ludicrous. Yet, the victory still came as a surprise as we didn't think small businesses could win against massive companies with endless resources and deep pockets.
Of course, we can conjure images of David beating Goliath because it feels appropriate here. We are just a tiny business by comparison, and Mastercard is arguably one of the most recognized brands in the world. There isn't a place on earth that doesn't accept Mastercard, after all.
We were also curious to know how many decentralized finance businesses have been in similar battles with massive traditional finance companies - and we cannot find any similar cases on record.
This could be the first cross-over case of its kind and is, therefore, a very important and, dare we say, landmark victory in the DeFi vertical.
Let us know your thoughts and join in the conversation via Twitter @Savl_official.