Eureka stockade over trademark

Alan Kohler

Eureka Report’s Alan Kohler has defended the use of the ‘Eureka’ brand in his online newsletter after being accused of possible trademark infringement by Eureka Financial Group.

On August 3, 2007, the three-month ‘opposition period’, whereby other parties could lodge a formal objection to Eureka Financial’s claim to ‘Eureka’, ended without incident. This gave Eureka Financial legal rights to the name within the financial services industry, allowing it use of the ® (registered symbol).

Eureka Financial principal Greg Cook said he is exploring his options and may take action against the Eureka Report due to the confusion it has caused in the marketplace.

“I’m not sure how big a deal we’ll make of it, but we get calls to this business from cranky Eureka Report clients sometimes, and now that we’re launching a newsletter called Eureka Moments, it will probably be worse,” he said.

In response to the claims, Kohler said he adopted the name Eureka Report in good faith and has been using it without being aware of any confusion having arisen between it and the Eureka Financial Group.

“We believe we are in different industries; ours is a general information media product, which is easily distinguished from a tailored financial advice service,” he said.

“Our business has now built up sufficient reputation in the name Eureka Report to be entitled to its own registration of the name on the basis of ‘honest concurrent use’. This will give us a defence to any trademark infringement action by the Eureka Financial Group.”

Kohler is notorious for his view on certain practices of financial advisers, in particular their commission-based fees. In describing the value of having an adviser, his website reads: “And as for getting sophisticated, relevant analysis of investment markets and techniques … forget it.”

Eureka Financial began its registration process on January 10, 2005, while Kohler formally lodged on November 6, 2006, almost two years after Eureka Report was launched.

“The thing that particularly annoys me is that Eureka Report takes an active anti-advice stance, although they’d probably argue they’re anti-commission. Also, Kohler has been known to call the diploma qualified financial adviser such as myself ‘knuckleheads’. And if I were to take action, it would certainly be one for the advisers,” Cook said.

“He has a right to hold those views, but if my clients inadvertently read his report it could adversely affect my business.”