The Electric Coin Company, which trades under the moniker of ECC, has made a donation of the Zcash trademark to the Zcash foundation. The Electric Coin Company created and released the privacy-focused digital coin Zcash (ZEC) in 2016. It will now own the trademark alongside of the foundation. Electric Coin Company and the Zcash foundation have been negotiating about this for about three months.

In the agreement, which was signed by both parties on November 6, the Zcash Foundation will hold the financial responsibility for the costs that are associated with assigning and protecting the trademark. At the same time, it was reported that the Zcash Foundation stated that their existing disagreement with the Electric Coin Company over the trademark's future has been resolved. The Zcash Foundation noted that it returned to the negotiation table with Electric Coin Company after it failed to reach an agreement in late August of this year. Those negotiations had stalled out during the Zcash Community forum. Electric Coin Company had put in more than 500 hours and spent in excess of $250,000 on the trademark.

Electric Coin Company stated that the trademark agreement is important because of the protection that it provides to the reputation. It also separates the products. Electric Coin Company also added that the Zcash trademark protects the community from scams and adds legal power to the blockchain rules of Zcash.

The Electric Coin Company added that the donation of the trademark allowed them to solve two outstanding problems. The first one was to honor and support the feedback provided by the Zcash community. The second was to continue to decentralize the organization. The Zcash Foundation added that the agreement maintains interoperability with standardized business frameworks and legal requirements for businesses that operate nonprofit foundations.

Last month, there had been a report of a malicious, counterfeit version of the ZecWallet. This is the Zcash Foundation's native wallet. The new agreement between Electric Coin Company and the Zcash Foundation demonstrates the two parties' commitment to safeguard the products against these types of schemes and scams.