WECOSIGN Files Suit in Federal Court Against Eight Defendants for RICO Act Violations, Trademark Infringement, and False Designation of Origin

SANTA ANA, Calif., Aug. 18 /PRNewswire-FirstCall/ -- WECOSIGN Inc. ("WECOSIGN") (OTC Bulletin Board: WECS) announced today that it has filed a lawsuit in Federal District Court to uncover and terminate various enterprises infringing on its registered WECOSIGN® mark. The lawsuit alleges "RICO Act Violations, Trademark Infringement, False Designation of Origin, and Cyberpiracy against eight named individual defendants," says Carlos Padilla, WECOSIGN's CTO.

As WECOSIGN alleges in its complaint, the company became aware of an operation designed to collect money from consumers under the name and mark "WECOSIGNUSA," promising repayment guarantees for automobile contracts, mortgages, and apartment leases. The enterprise appears to be supported by a variety of associated companies in several cities, all operating under the name "WECOSIGNUSA."

WECOSIGN engaged a team of private investigators to look into this matter. "Our initial mission was simply to get this group to stop using our name, but the further we went, the worse it looked," Padilla explained. "Fortunately we have some of the best attorneys in the country in this field, and they have been a huge factor in the successful protection of our Intellectual Property. Knobbe Martens Olson & Bear, LLP, are doing a superb job, and we could not be happier," says Padilla.

WECOSIGN was founded on the principle of helping honest people find a place to live. The company created the concept of serving as a rental guarantor and cultivated that concept into a viable business, and now there are malicious characters attempting to make a quick and dishonest buck in this young and volatile market. Padilla says that most business rating agencies are no help with consumers because many of the companies seeking the appearance of legitimacy today can simply "buy their ratings." When these supposedly legitimate businesses create professional websites to back up their claims, it is no surprise that many hard-working consumers fall victim to these elaborate scams. "This marketplace needs to be watched very carefully," cautions Padilla. "It's like the Wild West out there on the Internet. There is the potential for a lot of money to be stolen by seemingly trustworthy companies, who one day unplug their server and are gone forever, along with the money they collected."

Padilla is particularly troubled by some of the things that he sees in the current rental guarantor market. "Stealing money from honest consumers who are looking for help is despicable. It can be difficult for consumers to know where to put their money when they're looking for these services on the Internet, but we will continue to maintain our position as the industry leader by promising and delivering uncompromising honesty and integrity. Furthermore, we will aggressively pursue any and all attempts to infringe on our Intellectual Property or to damage our hard-earned spotless reputation."

WECOSIGN Inc. www.wecosign.com

SOURCE WECOSIGN Inc.