Unable to reach a compromise with J.P. Morgan Chase & Co over the use of the term "smart" in relation to its lucrative retirement savings products, major life insurance provider MassMutual is taking the banking company to court. MassMutual said discussions on Friday over its RetireSmart brand and the bank's SmartRetirement trademark had failed, prompting it to immediately file a lawsuit in Massachusetts federal court.
The insurer is asking for a declaration that it is not infringing on J.P. Morgan's trademark. MassMutual, formally known as Massachusetts Mutual Life Insurance Co, is owned by policyholders and manages $147 billion in assets in its retirement business. It has used the brand RetireSmart for its mutual fund and retirement planning services for eight years, the lawsuit said. The company also has a website under the same mark.
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