Dank of Oklahoma, a medical marijuana dispensary in Tulsa, resolved a trademark suit by agreeing to drop its name, hexagonal logo and other marks likely to cause confusion with those used by the Bank of Oklahoma.

According to a federal judge’s consent judgment Tuesday, Dank of Oklahoma and Bank of Oklahoma “agreed to amicably” resolve the suit, which the bank filed in March.

The case reflects the importance of cannabis companies conducting trademark searches before developing their business names and logos as well as the costly risk of playing off other company names to promote their business.

Bank of Oklahoma alleged that Dank of Oklahoma’s name, similar hexagonal logo – albeit with a marijuana leaf in the middle – and slogan “What’s in your dank account?” were “clearly intended to evoke the services offered” by the bank and to confuse consumers.

The bank registered the mark with the U.S. Patent and Trademark Office in 1975 and uses it at its subsidiary banks in nine states. The logo also is on the arena it sponsors in Tulsa called the BOK Center.

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Originally posted on via Cannabis Industry News