Hot off the press is news that the Satyam-Upaid dispute has been settled by Mahindra Satyam for a settlement amount of USD 70 million. (Read the Reuters story here).
This may well be among the last posts on this dispute from our end, one that we have been tracking in this space since it first broke in Jan 2008, and which has since travelled across three continents in various forms.
Upaid, a UK-based mobile payments service provider, had filed a suit against Satyam in connection with titles to patents on work that the UK company had outsourced to the Indian company. Satyam has of course been in the news for all the wrong reasons since the original suit was filed by Upaid, and this settlement is part of a larger attempt by the new owners of Satyam (i.e., Mahindra) to repair their reputation.
For those of you keen to read more about the background of the case, you may want to read our earlier blogposts on this. On another note, while the suit itself may have come to a close, it is hoped that the matter itself has served as a wake-up call to domestic corporates, to begin incorporating IP management as part of their mainstream corporate governance practices.SpicyIP Tidbits: Satyam settles Upaid dispute for $70 mn
Hot off the press is news that the Satyam-Upaid dispute has been settled by Mahindra Satyam for a settlement amount of USD 70 million. (Read the Reuters story here).
This may well be among the last posts on this dispute from our end, one that we have been tracking in this space since it first broke in Jan 2008, and which has since travelled across three continents in various forms.
Upaid, a UK-based mobile payments service provider, had filed a suit against Satyam in connection with titles to patents on work that the UK company had outsourced to the Indian company. Satyam has of course been in the news for all the wrong reasons since the original suit was filed by Upaid, and this settlement is part of a larger attempt by the new owners of Satyam (i.e., Mahindra) to repair their reputation.
For those of you keen to read more about the background of the case, you may want to read our earlier blogposts on this. On another note, while the suit itself may have come to a close, it is hoped that the matter itself has served as a wake-up call to domestic corporates, to begin incorporating IP management as part of their mainstream corporate governance practices.