2002 Agreement question
posted on
Sep 17, 2008 09:30AM
This is confusing to me. Paragraph E.1. from the 2002 Agreement between EDIG and APS references Samsung. Why would Samsung be mentioned in this agreement???
E.1. Books and Records.
APS shall keep complete books of accounts and records of all Products which utilize e.Digital technology and are manufactured, sold, distributed or otherwise disposed of, and all transactions relating to APS’s activities in connection with this Agreement. Such books and records shall be kept in accordance with Generally Accepted Accounting Principles (GAAP) of the United States, consistently applied and shall be retained by Samsung and kept available for inspection, copying and/or auditing by e.Digital for at least three (3) years after the termination of this Agreement.
Sorry, I realize this isn’t relevant to any ongoing litigation but I was just stumped as to the reason Samsung would retain APS records of products using EDIG technology. This is the sole reference to Samsung in the entire Agreement.