Zip Co say they will lodge an application for special leave to appeal to the High Court of Australia following an adverse ruling on appeal in the Federal Court over the ownership of the trademark ZIP.
On 19 March, the full Court of the Federal Court allowed on appeal by Firstmac from a lower court ruling.
Non-bank lender Firstmac registered Zip as a trademark way back in 2004 in respect of ‘financial affairs’ and first used it in trade in 2005.
“No final orders have been made” Zip told the ASX, but these are forthcoming.
“In light of the substantive success in this appeal by Firstmac … declarations of infringement should be made” the Full Court ruled.
“Injunctions should be granted that restrain the respondents from using the ‘ZIP’ word mark.
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“The matter should be remitted to the primary judge for a determination as to damages.”
Applications for special leave to appeal to the High Court must be based on questions of law for the High Court to determine and are rarely granted.