Restraining Order

According to reports, Bitcoin software company Lightning Labs and blockchain startup Tari Labs have agreed to convert a court ordered temporary restraining order that requires the suspension of the development of Lightning’s Taro protocol. In a document dated March 15th, lawyers from both companies proposed converting a restraining order into a preliminary injunction, a temporary order that prevents a party from taking certain actions. The conversion of this order into a preliminary injunction will stop the development of the agreement until a court decision is reached. Lightning Labs and Tari Labs agree to change the temporary restraining order in the trademark lawsuit to a preliminary injunction Analysis based on this information:Bitcoin software company Lightning Labs and blockchain startup Tari Labs have agreed to convert a court-ordered temporary restraining order into a preliminary injunction. The restraining order mandates the suspension of the development of Lightning’s Taro protocol. A preliminary injunction is a temporary order that restrains a party from taking certain…