Tax preparation agency H&R Block filed a lawsuit against Block, Inc. on Thursday. (formerly Square, Inc.) for trademark infringement, CNBC reported.
“Today’s filing is an important effort to avoid consumer confusion and prevent a competitor from taking advantage of the reputation and trust we’ve built over six decades,” said Jeff Jones, president and CEO of H&R Block in a press release.
H&R Block claims that Square’s new name competes directly with Block in several areas of financial services, including a recently acquired tax agency called Cash App Taxes — formerly Credit Karma Tax — a $0 tax filing service similar to H&R Block.
We protect the reputation and trust we have built over 65 years. This morning, we filed a trademark infringement lawsuit to prevent Block, Inc., formerly Square, Inc., from using the Block name and its family of trademarks inappropriately. https://t.co/6mF55e32GR pic.twitter.com/L0bRGp2tyk
— H&R Block News (@HRBlockNews) December 16, 2021
H&R Block said the company has seen numerous indications that consumers are linking the companies because their names are similar.
Block, Inc., co-founded by Jack Dorsey, announced the company’s name change on Dec. 1, saying it “recognises the company’s growth.” The company cited numerous sources of inspiration for the name change in a Twitter post after the announcement, saying the name represents the neighborhood blocks where the company finds its sellers, a blockchain, block parties full of music, obstacles and more.