Innovation leader John McAfee, developer of the eponymous anti-virus software application, has settled a year-long legal conflict with Intel over the commercial use of his name in personal endeavors after offering his previous company to the United States corporation 6 years back.
In September 2016, McAfee submitted a suit requiring the right to use his complete name– and by extension his personal brand name– in business title of MGT Capital Investments, a cybersecurity company he presently helms. Intel counter-sued, implicating McAfee of “trademark violation”.
Today (5 July 2017), United States district judge Paul Oetken dismissed both arguments after a settlement was agreeably signed, Reuters reported.
Under the terms, McAfee consented to not use the expression “John McAfee Privacy Phone” or the title of “John McAfee Global Technologies” for his cyber company.
He is still enabled to use his name for marketing, marketing activities and discussions– consisting of in relation to his previous function at McAfee Associates, offered to Intel in 2010 for $7.7 bn (₤ 6bn).
The deal was closed the list below year and in 2014 the company was rebranded Intel Security.
Neither celebration confessed misbehavior as part of the settlement. A declaration on MGT’s website checks out: “Following a disagreement over ownership and allowed use of the name McAfee, The Company and Intel have accepted a mediation procedure to prevent unneeded legal expenses.”
In 2015 Intel offered its bulk stake in Intel Security to a financial investment company called TPG in a $4.2 billion offer, but kept a 49% share of the company. In April 2017, it was formally relabelled back to “McAfee” but authorities appeared eager to remain eliminated from its previous chief.
“It’s crucial that people acknowledge John hasn’t had anything to do with the company in over twenty years,” McAfee’s primary innovation officer Steve Grobman informed TechCrunch at the time. “Although he has fascinating elements of his personal life, people do not consider the person.
“They identify the value that the brand name brings,” he included.
Last month, John McAfee revealed information of a so-called “Privacy Phone”. It is set to cost approximately $1,100 (₤ 850), be tailored to business and, he declared, will be the most “hack-proof” mobile handset on the marketplace.
Undoubtedly, he has stayed a polarising figure in the cybersecurity market, particularly following a short duration on-the-run from cops in Belize. Most just recently, he has been outspoken about his enthusiasm for cryptocurrency as MGT continues to promote its bitcoin mining abilities.