- Adidas AG ADDYY has reportedly taken back its request to the U.S. Trademark Office to reject a Black Lives Matter trademark for three parallel stripes.
- The decision has been taken by concern that people might mistake the sportswear maker’s trademark objection as opposition to the Black Lives Matter’s mission, reported Reuters.
- “Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” the report cited the company.
- Also Read: Adidas Q4 Revenue Declines 1%, Slashes Dividend By 78% Amid Kanye West Split Impact
- Adidas had told the U.S. trademark office that the Black Lives Matter Global Network Foundation’s yellow-stripe design was strikingly similar to its three-stripe mark.
- It requested the office to strike down the Foundation’s application to use the design on its goods.
- The report noted Adidas had filed over 90 lawsuits and made more than 200 settlement agreements for its three-stripe trademark since 2008.
- Price Action: ADDYY shares closed higher by 0.41% at $76.49 on Tuesday.
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