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UPDATE: Emerald City Supporters, Timbers Army and the Southsiders have jointly applied for the "Cascadia Cup" trademark in the United States. To do so, they have created the Cascadia Cup Council and they have formally announced that they oppose MLS's attempts to trademark the phrase. Full story here.
MLS acknowledged that they have filed an application to trademark the term "Cascadia Cup," but said they were doing so in an effort to "protect the brand from exploitation by parties unaffiliated with the League and its supporters." Here's the statement in full:
"With the interests of the MLS clubs in the Pacific Northwest and our fans in mind, Major League Soccer, applied for a trademark to the name ‘Cascadia Cup.’
"A registered trademark would put Major League Soccer in a position to protect the brand from exploitation by parties unaffiliated with the League and its supporters. However, we understand that some of our fans have concerns about how the trademark will be managed, and we are planning to meet soon with leaders of the three teams’ supporters groups to discuss the topic together."
What MLS intends to do with the trademark, if they are even able to get it, obviously remains to be seen. The trophy is jointly owned and was started by Emerald City Supporters, Timbers Army and the Southsiders prior to any of those markets having teams in MLS.