Metaquotes is a software company delivering a range of trading platforms named Metatrader. The most popular one is still Metatrader 4 while the latest one is Metatrader 5.
Metaquotes however was a bit late to register the key metatrader.com domain and trademark its platform names and somebody was able to put their hands on this lucrative domain ahead of the firm. Metaquotes filed a complaint to WIPO on July 20, 2012 however the complaint was dismissed on October 5, 2012.
The details of this case were unveiled by the World Intellectual Property Organization (WIPO)’s Mediation and Arbitration Center.
The arbitration panel not only waved all claims by Metaquotes but also ruled that Metaquotes tried to Reverse Hijack the domain metatrader.com from its rightful owner concluding that “In these circumstances the current Policy proceedings as commenced by the Complainant (Metaquotes) appear to be little more than a blatant attempt to obtain the disputed domain name at any cost (emphasis by Forex Magnates). In addition the Panel notes that the Complainant failed to disclose in the Complaint its pre-Complaint correspondence with the Respondent and did not deny its existence in its supplementary submission, which omission does nothing to reinforce its bona fides. It appears to the Panel that the Complainant must have known when it filed the Complaint that in these circumstances there was no reasonable chance of success and that it was putting the Respondent to unjustifiable trouble and expense in defending these proceedings.
Taking all this into account, and notwithstanding the fact that the Respondent has not sought such a finding, the Panel declares that the Complaint was brought in bad faith and constitutes an abuse of the administrative proceeding.”
The panel ruled against Metaquotes mainly because it was granted tradermark registration in Russia only in 2005 while the domain name was acquired by the Respondent in 2003 and that it took 9 years for Metaquotes to file the claim. In any case it’s a good reminder for everyone to check whether their tradermarks and patents are in order.