Thursday, July 30, 2015
TrueCar Settles Trademark Dispute
Santa Monica-based TrueCar said Wednesday that it has settled a trademark lawsuit that it had filed against Charlotte, North Carolina-based Sonic Automotive. Financial terms of the settlement were not disclosed. TrueCar had sued Sonic over the use of the the term "True Price" in its advertising. TrueCar said that it had established its sole and exclusive rights to TRUECAR trademark and TRUE family of trademarks. Sonic has agreed to transfer the rights to TRUE PRICE, TRUE VIEW and all other TRUE-related marks to TrueCar as part of the settlement. The two also said that Sonic will now lift its policy of not doing business with TrueCar, and evaluate whether dealership can participate in TrueCar's programs in the future.