Law firm ORJ Solicitors were recently instructed by two talented IT specialists and creators of a dynamic new IT product for the education sector in a shareholder dispute.
Our clients had entered into detailed negotiations with an existing market leader. Soon after the product was launched a dispute arose as to the ownership of the relevant information technology and the terms of the agreement between the two parties.
The investor, using city law firm Stephenson Harwood, issued a writ for £10 million. The trial was listed for November 2014 but settled shortly before, following a mediation.
ORJ is delighted to announce that not only was the claim discontinued but that it also recovered costs for its client who is now free to market the product within its own business.
The ownership of know-how is not protected by copyrights, design rights, and/or patents and is often the subject of debate; particularly where that ownership vests in the minds of directors within joint-venture businesses. Investors and entrepreneurs need to take care if they feel there is value in such know-how.
If you would like assistance or guidance with regard to intellectual property, information technology or a shareholder dispute matter, please contact Lorraine Smith, Patrick Tedstone or Mike Smyth at ORJ for an initial discussion. Alternatively you can call us on: 01785 223440