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Cycon contemplates that most manufacturing of the Cycon
computer will be done by Cycon, except for a limited
amount of work which will be subcontracted to other
companies.
By the end of 1985, Mr. Slavitt and Mr. Yaakov32 determined
that the Cycon technology33 should no longer be funded. Shortly
after the Cycon R&D project was terminated, Cycon went into
receivership.
Under the agreement with Cycon, I-Tech was the exclusive
owner of any technology developed by the research. I-Tech sold
its rights to the Cycon technology to NCT, a company that I-Tech
had located with the assistance of WorldTech. Because NCT uses
the technology developed in the Cycon R&D project in NCT’s
product-line development, I-Tech is entitled to receive royalty
payments from NCT.
4. Hal Robotics
Hal Robotics’ marketing and manufacturing plans were stated
in the PPM, in part, as follows:
It is expected that sales will be made through the
appointment of agents and distributors for the products
in the target markets. Alternative distribution
channels available to such products are original
32Mr. Yaakov had a 15-percent interest in Cycon plus an
option to acquire an additional 15 percent. Also, RSI, which was
controlled by Mr. Yaakov, owned 30 percent of Cycon and had an
option to acquire an additional 10 percent.
33Development of a micro computer-based numerically
controlled CAD/CAM (i.e., computer-aided design/computer-aided
manufacturing) system to be used in the production of molds and
dies on milling machines.
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