US Court Says Versata Owns Think3 IP

A US court has decided that Versata is the legal owner of the intellectual property of Think3. According to this press release a federal bankruptcy judge approved the settlement agreement between US company Think3 Inc and UAE company Versata FZ-LLC.The press release states:

“Following a two-day hearing, Judge Mott ruled that the license agreement had been negotiated in good faith and at arms’ length. He also found that Versata had paid full consideration to think3, and that the resulting exclusive license constituted a sale of think3’s intellectual property rights to Versata (except for the rights to the China market).”

The judge also denied a petition filed by the trustee of Think3 Italy seeking recognition of the Italian bankruptcy proceedings. Earlier the trustee had got an Italian court to rule that Think3 Italy was the sole owner of the Think3 IP. See “Italian Court Says Versata Does Not Own Think3 Intellectual Property“.

OK, so first we had two companies, Versata and Think3 Italy, claim to have the sole ownership of the Think3 IP. And now each of these companies have the courts in their respective countries agree with them. Yup, this is going to take a long time to end. I only hope that when it does, there are customers left to make the fight worth it for the winning party.

  • Kevin Quigley

    Think3 – a company that offered so much 10 years ago – who could have been a major player, but who will fade into insignificance. I was a customer, I left the fold when they couldn’t sort out their development and pricing. If I was still a customer now I would be running to the hills, fast, into the waiting arms of SolidWorks, Siemens, PTC and Autodesk and any others.

    I would have liked Think3 to succeed, in the same way that I would like other small sized CAD businesses to succeed, but from my own personal buying and user experience I have to say buying a fully featured CAD system is a far safer and more reliable bet if you stick to the major players. Sad but true. I think the day of the small companies is fading fast in this industry.

  • Really this is a new information for me. You have described very well. I like this article very much. Thanks for sharing. Keep on posting new information…

  • Ch_mad

    this is the worst news since 11 September

  • murray

    International IP harmonisation is working.  For lawyers.

  • ext3

    For what I know, the IP all in  Europe is in the hand of Think3 Italy, 
    The sentence in US is valid just in US!!!