The legal troubles between Stake and Stake.com appear to be rapidly developing in Australia.
The lawsuit was first filed on 11 August 2023 by Stake, a share trading platform founded in Sydney that has since grown to become one of the largest brokers in the country.
Stake claimed that if Stake.com were allowed to operate in Australia, it would confuse customers who may think the two companies were related.
After all, both of them offer financial services of some kind with similar coloured websites.
Stake.com has also been accused of trying to buy the Stake domain out from under the broker, as well as applying for several Stake-related trademarks, including ‘Stake Australia’.
While Stake.com is not legally operating in Australia yet, it does have an international presence that is difficult to ignore in trademark cases such as this.
Recent developments
On 9 September, Stake filed a subpoena request (GPN-SUBP), followed by several affidavits.
After a case management hearing on the morning of 17 September, Stake followed up with another subpoena to produce documents.
Good to know: An interlocutory hearing is the first step before a civil case goes to trial, while part hearings are when the main case has started but not concluded
Now, a case management hearing and interlocutory hearing are scheduled for 30 September.
The NSW Registrar will hold the return of subpoena hearing over a web conference one day later, on 1 October.
The official hearing is scheduled for 30 November 2026, with part hearings from 1-8 December.
If successful, Stake.com would have to change its name to something else if it wanted to operate in the country.
This is what happened when Burger King tried to open in Australia, but there was already a local restaurant operating under that name, so the franchise opened under Hungry Jack’s instead.
This is not the first legal battle Stake has seen recently, either.
Stake was ordered to leave the UK market earlier this year, while there have been issues in California and other US states that are also trying to push the operator out.
