Facts
UBS AG (plaintiff and appellant) is a major Swiss bank headquartered in Basel and Zurich, primarily engaged in banking, finance, advisory, service, and trading businesses. Keytrade Bank SA (defendant and respondent) is headquartered in Belgium and also operates a bank with a branch in Geneva.
The word mark "KEYTRADER" has been registered since 1998 in favor of UBS AG for various goods and services in the finance and technology sectors. Keytrade Bank used the sign "Keytrade Bank" in various forms in connection with its business activities.
UBS AG filed a lawsuit against Keytrade Bank for trademark infringement and unfair competition. Keytrade Bank filed a counterclaim for nullification of the "KEYTRADER" trademark.
Considerations
The Federal Supreme Court confirmed the nullification of the "KEYTRADER" trademark by the lower instance. It concluded that the sign "KEYTRADER" is descriptive for the claimed financial services and products and therefore lacks inherent distinctiveness.
Regarding the cease and desist claims of UBS AG under the Federal Act against Unfair Competition (UWG), the Federal Supreme Court set aside the decision of the lower instance. It referred the matter back to the lower instance…