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.