Re: How many accolades have been betstowed unto DM that have been posted
in response to
by
posted on
Oct 23, 2009 12:51AM
The only potential debacle out of all this non-disclosure is if EDIG reveals that DM is no longer handling their IP Litigation.
I've thought of this as well recently, and if DM terminated the agreement, it would definitely not be a good thing. But what if EDIG terminated the agreement with DM due to another equally talented/high power IP law firm offering them a better percentage deal. The law firm Morgan Lewis Bockius LLP comes to mind as an example. Remember, they were the ones who used EDIG's 774 patent as an example during a litigation training seminar at the Morgan Lewis IP Academy in China last year. Perhaps they see the strengths in EDIG's patents and want in on the action. And the EDIG/DM agreement clearly shows EDIG can terminate for any reason in this paragraph:
Contingent Fee in the Event of Other Events (“Alternate Transaction”). In the event that during the term of this Agreement, there is an acquisition of e.Digital’s stock or assets by a third party, including but not limited to, an acquisition of the Norris Patents such that there is a change in control, or if the Company files or is involuntarily placed in a bankruptcy or other insolvency proceeding, or in the event the Company terminates this Agreement for any reason, the parties agree that Duane Morris shall be entitled to collect accrued costs and a fee equal to three times its overall time and expenses accrued in connection with this Agreement through the date of such transaction, plus a fee of fifteen percent (15%) of a good faith estimate of the overall value of the Norris Patents as of the date of the Alternative Transaction.
All this is pure supposition, pure speculation on my part, but it would explain why no new lawsuits have been filed...along with a hundred other reasons. I don't think this is the case but honestly, it has crossed my mind. Will know the answer within 4 weeks.