If you want to learn how importance your business’s intellectual rights are, you should definitely follow the case of Nortel Networks Corporation. One of its kind company who collapsed and the partners and founders are fighting for the possession of the intellectual property rights. You will also know what happens to your intellectual property rights in the event of bankruptcy. Furthermore, you also will get an idea why you need an expert lawyer like Glenn Duker to protect your rights.
Nortel was established in Montreal, Quebec, in 1895, and to start with was unquestionably Canadian. By the late 90s the organization had turn into a multinational element with arms in different nations. Skimming high in the web bubble, it represented more than 33% of the aggregate valuation of all postings on the Toronto Stock Exchange and utilized 94,500 around the world - 25,900 of these in Canada.
Then again, after the crash down, Nortel gradually broke apart in a blaze of business downturn, slamming offer costs and bookkeeping outrage. On January 14, 2009 the enterprise petitioned for assurance from its banks in the United States, Canada and the UK.
The contention over the division of the organization's benefits has been in court for a considerable length of time. The liquidation has yielded $7.3 billion, and $4.5 billion of that aggregate figure is spoken to by IP and patents. The court discuss centreson this inquiry: does Nortel Networks Ltd, the Canadian guardian, claim the licenses and protected innovation? Alternately is responsibility for resources shared between the guardian and its auxiliaries in the US and UK? All three nations have a huge number of leasers battling for their offer, and the contention on both sides is energetic.
The case is in its last stage and is being heard by two judges, One Canadian and another American. However, it will be very interesting to know what will be the result. It is but obvious that the party who loses the case, will appeal in the high court.
As a lawyer who has experience in IP rights and corporate law, Glenn Duker, solicitor, can advise you on how to approach this kind of situation in court and get the best result.