Modmarket, a popular restaurant chain, ran into issues regarding its name. Specifically, a trademark dispute sprang up with the rival MOD Pizza. To settle things, Modmarket is simply going to change its name to Modern Market.
Modern Market is based out of Denver, Colorado. Along with the new name, the company is also going to have a new logo. It is a yellow circle with three black utensils on it. The utensils—a knife, a fork and a spoon—are all flipped upside down. The CEO recently showed these changes to the public.
MOD Pizza did not seem to be aware that there was any similarity while Modern Market was operating in Colorado. However, about a year ago, the company decided to try its hand in Texas, as well, hoping to spur even more growth. That's when MOD Pizza took note and began to express concerns.
Interestingly, Modern Market was actually the company that started the lawsuit. It came after a few months of talks between the two groups. The name change appears to be a settlement, and representatives said they feel it's best on both ends.
Additionally, Modmarket had been called Modern Market when they were first creating it and working on the concept. They just wanted to give it a snappy, trendy vibe, and so they shortened it. They said they're not too disappointed to go back to the old name since it's what they meant and how they thought of the chain all along.
As businesses grow and expand their reach, it becomes more and more important for owners to know all of their legal rights.
Source: Nation's Restaurant News, "Modmarket to change name to Modern Market Change marks settlement of trademark dispute with MOD Pizza," Lisa Jennings, Nov. 18, 2015