- Singaporean insurance marketplace PolicyPal is facing a legal threat from US insurance company Travelers over its logo. Both logos depict umbrellas, albeit in different colors and designs.
- The #startup has received two legal notices from the US firm, founder and CEO Val Jishuan Yap says. PolicyPal will change its logo, as it does not have the resources for a protracted legal battle.
Why it matters:
- Travelers is one of the largest US-headquartered insurance companies, with a history reaching back to the 1800s. PolicyPal is not the first company to feel the wrath of its legal department – Travelers has gone after many other firms who use an umbrella-like logo, including UK startup Brolly, insurance company Legal & General, and Alaskan firm HR Umbrella.
- The incident highlights how defenseless smaller companies are against lawsuits from larger companies. For startups that lack extensive legal resources, there is usually little choice but to concede.