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Benzinga
  • 3 years ago
Taco John's has relinquished its legal claim to the trademark for "Taco Tuesday" following a challenge from Taco Bell. Taco John's had held the rights to the phrase in all states except New Jersey, where it was held by Gregory's restaurant. Taco Bell filed petitions to nullify Taco John's exclusive rights, stating that "Taco Tuesday" should be available for everyone. Rather than engaging in a costly legal battle, Taco John's abandoned the trademark. The company turned the situation into a public-relations opportunity by announcing a charitable donation of $40,000 to the nonprofit Children of Restaurant Employees. Taco John's also challenged Taco Bell and others to make similar gifts if they used the phrase. Fans praised Taco John's for its classy approach, while some experts noted that ubiquitous terms like "Taco Tuesday" cannot be owned by anyone under trademark law.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Taco Johns has relinquished its legal claim to the trademark for Taco Tuesday following
00:07 a challenge from Taco Bell.
00:09 Taco Johns had held the rights to the phrase in all states except New Jersey where it was
00:13 held by the restaurant's Gregory's.
00:15 Taco Bell filled petitions to nullify Taco Johns' exclusive rights stating that Taco
00:20 Tuesday should be available for everyone to use.
00:23 Rather than engaging in a costly legal battle, Taco Johns decided to abandon the trademark.
00:28 The company turned the situation into a public relations opportunity by announcing a charitable
00:32 donation of $40,000 to the non-profit Children of Restaurants employees.
00:37 Taco Johns also challenged Taco Bell and others to make similar gifts if they used the phrase.
00:42 Fans praised Taco Johns for its classy approach while some experts noted that ambiguous terms
00:48 like Taco Tuesday cannot be owned by anyone under trademark law.
00:51 For all things money, visit Benzinga.com.
00:53 [BLANK_AUDIO]
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