Bitcoin is a trademark held by MtGox, on the dubious theory that "better they than someone else". There was some talk about them transferring this to the Foundation, but nothing came of it AFAIK.
So if the foundation still hasn't done anything about this, then shame on them. Bitcoin is then an asset in the bankrupt holdings of MtGox currently controlled by the courts of Japan.
Bitcoin the trademark, yes.
But Bitcoin the currency is owned by the Bitcoin community which took it over under the rules and laws of open source software as outline under the MIT license.
Nobody holding the Bitcoin trademark can stop Bitcoin, its developers or its community from doing as they please with Bitcoin the currency.
This is what Josh Garza doesn't seem to understand about these open source [MIT licensed] Crypto-Currencies.
He cannot stop PayCoin (the original) even if he actually got lucky somehow and attained the PayCoin trademark.