GMA News Online
Economy
»
Companies

Megaworld renames disputed 'The Trumps' after Donald Trump complains

December 13, 2007 9:33am
Local property developer Megaworld Corp. has renamed a condominium project formerly called “The Trumps" into “One Central" after international property tycoon and media mogul Donald Trump said his company will be taking legal action against Megaworld for riding on the popularity of his name.

However, in a statement to the Philippine Stock Exchange, Megaworld said the change of name was not in any way giving up its claim to use the word “trumps" in future developments in the Philippines.

“In opting to use ‘One Central,’ we are by no means relinquishing our right to use the mark ‘The Trumps’ in any of our real estate projects in the Philippines," Megaworld chief executive officer Andrew Tan said in the statement.

Tan said Megaworld would only like to “pay tribute" to the project’s prime location. One Central will be built at the corner of Sen. Gil Puyat Ave. extension and Ayala Avenue in Makati City.

Megaworld and Trump Organization are currently engaged in legal proceedings over Megaworld’s right to use “The Trumps" in the Philippines.

“It is clear that the word ‘Trump’ is unmistakably associated with me and with my company throughout the world. When someone says the word ‘Trump’ people certainly do not think of Megaworld," Trump said in an earlier statement.

However, Megaworld said the existence of a residential building called “The Trumps" in Singapore, which is not connected with Trump Organization, may work in their favor.

“We believe Megaworld has a strong legal position. But we are prepared to abide by the [Intellectual Property Office’s] decision, whichever way it goes," Tan said. - GMANews.TV