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Series of Events for IP
Posted by Anonymous . updated on 2/26/2009
I recently left my company (I was part owner with a number of people including capital investors). This current company has a Non-Exclusive License Agreement with a former company (that I and some of the same capital investors owned) that has also been dissolved for almost two years. The IP (in whole owned by the former company) was never assigned to anyone including the current company with the Non-Ex Lic. The people part of the current company want me to sign a document that assigns the IP to a former partner (someone who was part owner of the former company and is part owner of the current company); all this at no cost for the IP. That person will then, in turn, assign the IP to the current company and a small group of them (in the current company) plans to start a new company whereby the IP is assigned to the new company (not certain if the new company is paying any significant fee for the IP). But to do all this, they need me to sign the assignment of the former company's IP to the person, and in doing so, they have to re-write the original Non-Ex Lic. strickly to benefit their hopes here. Then they want me to sign a Quit Claim; basically it will indicate that I am not liable or responsible for any or all futuer claims, etc. In all, this means that I will be giving up my rights (and I am the orignial founder of the IP) to them at no cost to them, royalties or otherwise. As it stands, with the former company being dissolved, the IP is already public domain. This group has had three attempts to bring the IP into a marketable 32-bit (windows) app. or/and of late, a web-based app. They have been unsuccessful. Though they won't say outright, it appears that they intend to establish a holding company for the IP, then license the IP to multiple companys with deep pockets and market presence. This will leave most all investors, including me out of the picture. At this point, I am just simply not interested in signing anything or doing anything with this matter.
Anyone's thoughts please?
Answers (1)
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Isaac
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Quote IAt this point, I am just simply not interested in signing anything or doing anything with this matter.
Anyone's thoughts please?
I skimmed most of this, but if I understand things correctly, I don't see any motivation for you to sign.
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