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article imageJohn McAfee and Intel agree to settle lawsuit over his name

By James Walker     Jul 7, 2017 in Technology
John McAfee has settled his lawsuit with Intel over the rights to use his name for his new company. McAfee sold his well-known antivirus firm to Intel six years ago. He started a lawsuit last year to regain the rights to use "McAfee" at his current firm.
McAfee is CEO at MGT Capital Investments Inc. The company develops cybersecurity solutions and privacy-focused devices. Its products currently include a network protection suite that "outpaces every other approach" and the kill switch-equipped Privacy Phone.
McAfee now wants to rename MGT Capital Investment to John McAfee Global Technologies. After announcing his interest last year, Intel warned him that the new name would infringe on its trademarks. It bought McAfee's eponymous antivirus company in 2010 for $7.7 billion. The deal included the rights to the McAfee name.
McAfee started a lawsuit against Intel in September 2016 when it became apparent he couldn't rename his company. Intel filed a countersuit but both cases have now been dropped under a settlement filed this week. Reuters reports that McAfee has agreed not to name his company "John McAfee Global Technologies." However, he can use his name on products that aren't related to cybersecurity.
The settlement also specifies that McAfee can advertise his name on advertisements and promotions related to his new company. This gives MGT significant leeway as it markets new products like the Privacy Phone. The McAfee name could be an aid to the company as it grows and attracts more attention, making McAfee's involvement more explicit.
McAfee joined MGT in May 2016 and commenced formal CEO duties in November. The move represented McAfee's first return to the public markets since selling his antivirus company to Intel. Intel still retains a 49 percent stake in McAfee Llc valued at $4.2 billion. It spun out the remaining 51 percent of the firm to private investment firm TPG Capital last year.
MGT's website states that it's developing a "diverse portfolio of cyber security technologies." In an article detailing the company's aims, McAfee criticises the current approach to cybersecurity as "reactive" and too often subverted by emerging threats.
McAfee also targets established competitor Avast for purchasing rival AVG. The post claims Avast have "wasted their money" and should be placing their funding in developing "what comes next." MGT's Sentinel technology offers a proactive approach to identifying and removing new threats on a network, claiming to push the cybersecurity market in a new direction.
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