New York-based Cryptocurrency startup CryptoOracle may be considering rebranding this week after Redwood, California-based tech giant Oracle filed a federal trademark suit against the company.

At the root of the lawsuit is CryptoOracle's name, which Oracle claims infringes on and dilutes its trademark. Oracle also accuses the startup of unfair business practices and cybersquatting.

Founded in 2017, CryptoOracle purports to promote blockchain and other decentralized technology through community events like the company's CryptoMondays and CryptoTuesday events held in more than 20 cities around the world.

In the complaint, Oracle said it welcomed CryptoOracle's endeavors, but drew the line at trademark infringement.

According to the complaint filed in California's Northern District on Thursday, Oracle is seeking an injunction and damages against CryptoOracle and its founder Louis Kerner that would force the company to rebrand and could expose the company to significant financial liability.

Oracle has not defined the extent of damages it intends to seek. But the complaint claims Oracle is entitled to CryptoOracle's profits, Oracle's damages, the cost of the action, and reasonable attorney's fees.

According to the civil complaint, Oracle — which holds a wide array of trademarks including many pertaining to analysis and consulting services related to financial transactions pertinent to this case — claims that the lawsuit "became necessary to stop CryptoOracle and Mr. Kerner from trading on the reputation and good-will that Oracle has earned among consumers throughout the technology industry."

Further, Oracle makes the case that the use of "Crypto" in the name does not adequately differentiate the two companies.

The suit also extends personally to Kerner, who Oracle says has made frequent trips to California where he has spoken in highly public environments including industry conferences under the CryptoOracle brand.

The suit comes after attempts to remedy the situation outside of court, according to the complaint.

In December 2018, a cease and desist letter was reportedly sent to Kerner explaining Oracle's concerns and asking that he cease the use of the CryptoOracle name and any other names that reproduce the Oracle trademark.

In response, Kerner allegedly attempted to register the CryptoOracle Trademark with the U.S. Patent and Trademark Office as a business offering financial consulting services in the field of cryptocurrency.

Oracle claims that CryptoOracle and Kerner's "mimicry" and refusal to adopt an original, non-infringing name threatens to mislead the public and deprive Oracle of its trademark rights.

In response to Thursday's court filing Kerner, in an email to SDxCentral, expressed his confidence that CryptoOracle would win the case.

He also asserted his belief that Oracle likely had little knowledge of the suit and instead the filing was an attempt by a law firm to "maximize their fees."

Oracle declined to comment on the suit at this time.