The Legal Environment of Business: Text and Cases
10th Edition
ISBN: 9781337535878
Author: Frank B. Cross; Roger LeRoy Miller
Publisher: Cengage Learning US
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Chapter 2, Problem 3BCP
Summary Introduction
Case Summary: The Company PRM licensed its patents to the company PRI to use it in the US. There was a contract between these two companies stating that all the disputes between them will be settled by arbitration. The company K of Japan showed interest in using the technology presented by the company PRM’s patents, to which the company PRI agreed without telling it to the company PRM. When the company PRM got to know about this secret deal, it filed a suit against the company PRI for theft and fraud.
To explain: The possibility of the dispute to go for trial or arbitration.
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