- 427 - to another stage to bring it to a commercial product that will be put on the shelf. And I can't tell you now what might have conceivably been developed were this product research and development to have been successful or gone far enough, but it was our impression and understanding at this time that it either would--or could produce something significant and allow for future research and licensing or something significant enough to be an actual product that could be commercial manufactured. [Emphasis added.] The Court: But there have been no developments of these other rights that you are talking about? [Kanter]: Well, those rights existed. There was no preclusion of the rights as far as I know, that nobody took them away in the form of defined patent rights. It remains unclear to the Court just what those "rights" might be. The Court is skeptical that, in the everyday world, an investor would pay $980,000 for a bundle of ambiguous property rights, as to which there is no persuasive indication that such rights could be exploited or developed. Moreover, this Court's holding in Estate of Cook was not premised upon IRC's holding no ownership rights whatsoever in the research, as Kanter implies. Rather in Estate of Cook, this Court concluded, after considering the totality of the facts and circumstances, including certain highly relevant factors, that there was no realistic prospect of IRC's entering into a trade or business to exploit the technology being developed under the IRC- Newport R&D and License Agreement.Page: Previous 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 Next
Last modified: May 25, 2011