Kramer Levin Successful Representation of Calypso Capital Management Noted in BNA Patent, Trademark & Copyright Law Daily

Sep 09, 2011

OUTCOME: Successful

In dismissing Calypso Technology, Inc. v. Calypso Capital Management, LP, a combined opposition/cancellation action, the Trademark Trial and Appeal Board ("TTAB") gives clarity to its rules governing s ... ubmission of evidence by way of Notice of Reliance, an issue on which there was previously little published insight. Unlike most TTAB decisions, the Calypso decision is designated citable precedent, suggesting that it should be looked to for future reference by trademark practitioners. The Calypso decision is also notable for its contributions to the hedge fund precedential landscape. In comparing plaintiff's CALYPSO mark for software used by financial institutions to several of defendant's CALYPSO marks for equity investment and fund management services, the TTAB found that the marks at issue are similar, both parties' marks are used within in the "financial field", and the same institutions that purchase plaintiff's computer software may utilize defendant's equity investment services. Despite these findings, however, the TTAB strongly stated that confusion is not likely to occur due to the sophistication of both parties' consumers, and the differences in the goods and services provided under each party's marks. As such, the TTAB actions were dismissed, and the CALYPSO marks were permitted to proceed to registration. Calypso Capital Management, LP was represented by Intellectual Property partner Erica D. Klein, Intellectual Property associates Carole Klinger and Heather J. Chase, and Financial Services associate Mark F. Parise.