GERALD RATNER'S return to the jewellery trade suffered a setbackyesterday when he had to change the name of his new internet venture.After legal action by Signet, his former company, he will call hisbusiness GeraldOnline instead of RatnersOnline.
Signet owns the Ratners name. It has not traded under the brandfor several years, but argued that use of the name by a competitorwould cause confusion in the marketplace. Mr Ratner has agreed not toinfringe or pass off the Ratners trademark, which means he is barredfrom using the names "Ratners", "Ratner", "RatnersOnline" or "ROL".The action does not stop Mr Ratner launching his internet jewelleryoperation, which he plans to have running by Christmas.
Mr Ratner said: "It was better to reach an agreement with Signetand use investors' money and management time to develop the businessthan on contesting a legal action." He said it was better to use hisfirst name in the business title rather than pick a generic name suchas BritishJewellers.com.
Mr Ratner has put pounds 100,000 of his own money into the ventureand is seeking to raise pounds 4m via a float on the lightlyregulated Ofex exchange, with a view to taking the company on to theAlternative Investment Market later.
He is also being backed by the privately owned high streetretailer Goldsmiths, which will provide Mr Ratner's business withwarehouse space and delivery support.
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