A firm’s application to trademark an industry term has been withdrawn following a backlash from a trade association.
An application to trademark ‘PropTech’ had been made by Sam Zawadski, who runs the start-up business Property Technology.
But the businessman’s move caused disquiet, with the UK’s PropTech Association (UKPA) inviting him to withdraw the application. The organisation had also filed an objection to said application on behalf of its members.
At the time, Eddie Holmes, the association’s co-founder, outlined their concerns.
He said: “The UKPA exists to promote collaboration between property firms and PropTech suppliers.
“That collaborative approach stems from the way PropTech firms have grown by working together. We felt it was important to protect this culture as much as the legal right of our members to use the term ‘PropTech’ to describe their companies and so have objected to this application.”
Mr Zawadski said subsequently that the application had been made in good faith, with no desire to create a monopoly, but it had now been withdrawn.
“Our focus will be on partnerships to commercialise our technology,” he said.
“We’re looking forward to joining the UK PropTech Association and working with other software companies to empower 21st century property professionals with our technology.”
Mr Holmes welcomed the fact that the matter had been resolved and said the association now looked forward to welcoming Property Technology Ltd.