It is with huge disappointment that I have to inform you that we have today entered into legal action against a newly incorporated company, DREP Foundation Ltd.
As you may know, in addition to our reputation management services, we have also developed a ground-breaking, proprietary digital reputation analytics tool, for which we have several clients and which we are developing further as a global product. This was, in fact, the principle reason we founded DREP and we have spent a huge amount of time and effort developing this technology.
Unfortunately, in February this year, Chengdu-based entrepreneur Momo Chang incorporated DREP Foundation in Singapore as an Initial Coin Offering (ICO) vehicle to fundraise for the development of online reputation analytics tools.
To be absolutely clear, we don’t mind healthy competition. We are confident of our competitiveness based on the quality of our product and service. What makes it unfair is when a competitor enters our market using our company name. This is unacceptable.
We have reached out to Momo Chang several times but there has been no response. Today, we have issued a Writ of Summons to prevent her from using our name any further.
This is obviously a difficult and unwanted process and we have engaged lawyers to pursue the matter on our behalf so that we can continue to focus on delivering for our clients.
Thank you for your continued support.
DREP PTE LTD
“Be Known For Good”