Standing to bring action is found despite glitch in transfer agreement
The Dow Chemical Company v. Nova Chemicals Corporation, et al., Civil Action No.05-737-JJF, July 30, 2010.
Farnan, J. The court finds standing to sue after a bench trial on standing
The disputed technology relates to polymer compositions, specifically polyethylene. The bench trial on standing followed a jury trial and verdict in favor of plaintiff in the amount of $61,770,994.60. The standing issue arises from the fact that plaintiff had entered into a contribution agreement with its subsidiary Dow Global Technologies, Inc. regarding transfer of certain patent rights. The agreement called for patents to be transferred to be listed on Schedule A and excluded assets to be listed n Schedule D. Schedule B was meant to constitute Schedule A, but for a typographical error, and did not include the patents-in-suit. The agreement itself does not include the patents-in-suit. The court concludes that the transfer is not concluded until the patent is listed in Schedule A, rejecting defendants’ argument that these assets transferred automatically since Schedule A did not exist.
