One could be forgiven for thinking the words «Credit Suisse» and «First Boston» were somehow forever entwined as part of the history of the two firms. Deciding to revive it for the investment bank that Credit Suisse is spinning off and renaming it «First Boston» would have been relatively straightforward. That, however, was not the case as it turns out.
Now the bank has reached an agreement with the owner of the «First Boston» trademark, allowing it to use the name for its spun-off unit, the «Financial Times» reported Wednesday, citing sources. The company, Dominant Brands, which owned the «First Boston» name, also registered the names of other financial institutions like EF Hutton, Bank of Boston, and Shawmut, according to the report. Credit Suisse attorneys filed a petition with the US Patent and Trademark Office in October to reclaim the trademark based on «the continuing stellar reputation of the mark and name ‘First Boston’ and of Credit Suisse in association with that mark and name,» according to the FT.
On Tuesday, Credit Suisse withdrew the petition after it paid the holder of the name a usage fee. In a statement to the Financial Times, Credit Suisse said «the bank has developed the First Boston trademark and related reputation and goodwill over decades, and will vigorously pursue and defend its rights in this regard.»Credit Suisse and First Boston formed a joint venture called Credit Suisse First Boston in 1978.
Credit Suisse took control of the company in 1988, and the New York investment banking division operated under the name Credit Suisse First Boston until 2005.
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