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EXCHANGE22 - India's 1st Sports Stock Exchange Wins Over Myfab11 In A Copyright Infringement Tussle

LIVELAW NEWS NETWORK
19 April 2022 11:55 AM GMT
EXCHANGE22 - Indias 1st Sports Stock Exchange Wins Over Myfab11 In A Copyright Infringement Tussle
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New Delhi, India Recently, the Delhi High Court granted an ex parte ad interim injunction in favour of EXCHANGE 22, India's 1st Sports Stock Exchange, a fantasy gaming app brand registered with Hulm Entertainment Pvt. Ltd. The copyright infringement suit was filed against MyFab11, another gaming app, launched an identical gaming platform. EXCHANGE 22 was represented by Mr....

New Delhi, India

Recently, the Delhi High Court granted an ex parte ad interim injunction in favour of EXCHANGE 22, India's 1st Sports Stock Exchange, a fantasy gaming app brand registered with Hulm Entertainment Pvt. Ltd. The copyright infringement suit was filed against MyFab11, another gaming app, launched an identical gaming platform.

EXCHANGE 22 was represented by Mr. Sandeep Sethi, Senior Advocate, assisted by Sudeep Chatterjee, Partner, Singh & Singh Law Firm LLP along with Advocates Tejveer Singh Bhatia, Shifa Nagar, Kiratraj Sadana, and Tanya Arora.

EXCHANGE 22 is the first of its kind fantasy league gaming platform for cricket, football, basketball, and kabaddi. The platform's distinguishing feature is the 'real-time gaming experience' albeit virtually. Furthermore, it incorporates the unique traits of share market trading, which allows the user to buy/sell players' shares the same way as buying and selling stocks on the exchange. Users can transact in the form of purchasing any number of shares of a player before the real-time start, for a maximum of up to 22 players per match happening globally. In addition to the Points System, the EXCHANGE 22 app is an exciting user experience as it is a perfect blend of Fantasy Sports Leagues and Stock Market Trading features.

"India is now racing towards being a hub of unicorns, start-ups, and entrepreneurship at an all-new high. One common thread that encompasses all these big-ticket achievements is Innovation and protection of ideas. I am thankful to the Hon'ble Court for once again instilling confidence into the community the very belief and importance of intellectual property and ownership of copyright as one of the inevitable business assets today." said Bodhishatta Karfa, Director, EXCHANGE 22

What triggered the filing of the suit by EXCHANGE 22 was MyFab11 launching an almost replica version of EXCHANGE 22 just a day before the beginning of the Indian Premier League 2022. The new version cloned not only the gaming interface but also front-end analytics gaming data, including player prices, etc. Furthermore, MyFab11's imitation efforts extended to adopting similar advertising and promotional strategies and the overall advertising approach. In addition, the new update's concept, expression, and user interface substantially reproduced EXCHANGE 22's registered copyright.

Hon'ble Delhi High Court granted an injunction to MyFab11 from being downloaded by the users through their app, official website, or any other means, platforms, updates, etc. Additionally, all app stores housing the MyFab11 app have been directed to delist the app. The domain registrar was also directed to suspend the domain name registration for myfab11.com.

About EXCHANGE22

Exchange22 brings together sports and trading. The first of its' kind sports fantasy league; sports stock exchange. Founded in 2019, its kind of sports fantasy concept merges sports and trading and how a stock exchange operates. However, instead of trading stocks of companies, players are traded. We believe that this one-of-a-kind concept of sports fantasy league has redefined the fantasy league concept and set new benchmarks for its simple, user-friendly interface and gameplay, letting the user have a unique experience. Exchange22 is owned and operated by Hulm Entertainment Pvt. Ltd.

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