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Investment Bank Pentium Fund Accuses Intel of Reverse Cybersquatting.

ALEXANDRIA, May 12, 2009 -- Investment Bank Pentium Fund filed suit today in federal court seeking relief from an arbitration award ordering them transfer ownership of their web domains to Intel by accusing Intel of reverse cybersquatting.

Intel initiated a domain name dispute on February 4, 2009 under the terms of the Uniform Domain-Name Dispute-Resolution Policy (UDRP) before the World Intellectual Property Office Arbitration and Mediation Center against the British Virgin Island chartered bank. Intel argued that www.pentiumfund.com, www.pentiumfund.net and www.pentiumfund.org were confusingly similar to their mark PENTIUM and should belong to them.

On April 19, 2009 WIPO agreed wih Intel and ordered the domain names transferred. Pentium Fund initiated suit in the U.S. District Court for the Eastern District of Virginia by accusing Intel of reverse cybersquatting.

Cybersquatting and reverse cybersquatting are prohibited under the Anticybersquatting Consumer Protection Act. Cybersquatting involves registering, trafficking in, or using a domain name with bad faith intent to profit from a trademark belonging to someone else. Reverse cybersquatting is when a party, who does not have a legitimate claim of trademark infringement, files a lawsuit against the owner of a legitimately registered domain name in order to obtain ownership of the domain.

The UDRP allows the parties to file suit after a WIPO decision is rendered, in effect appealing the decision.

The British bank with headquarters in Switzerland registered the domain www.pentiumfund.com on May 1, 1999 and www.pentiumfund.net and pentiumfund.org on October 17, 2006. For some reason, Pentium Fund was not ordered to transfer the domain www.pentium-fund.com to Intel while the others were.

Intel uses the trademark PENTIUM in connection with silicon microprocessors.