Pedestrians stroll previous an H&R Block workplace in San Francisco, California, U.S., on Monday, March 8, 2021.
David Paul Morris | Bloomberg | Getty Photos
H&R Block filed a trademark infringement lawsuit over Sq.’s new identify, “Block” on Thursday.
The tax preparation service seeks to maintain Block from utilizing the brand new identify, saying in a press launch that the fintech firm “would improperly capitalize on the goodwill and shopper belief cultivated by Block since 1955.”
H&R Block stated the renamed firm competes with it straight in monetary providers, together with by its latest acquisition of Credit score Karma Tax for tax preparation. It alleged the identify can be overly complicated for customers, particularly given the 2 firms’ overlapping choices.
“Immediately’s submitting is a crucial effort to forestall shopper confusion and guarantee a competitor can not leverage the status and belief we have now constructed over greater than six a long time,” stated H&R Block President and CEO Jeff Jones stated in an announcement.
A Sq. cost system is seen in a restaurant in New York, August 2, 2021.
Andrew Kelly | Reuters