I think you are missing a little information in your statement
I wanted to make sure that the FACTS are accurate.
On May 17, 2010, the Company entered into a license agreement (the “License Agreement”) with Vivisimo, Inc. (“Vivisimo”),
granting the Company a non-exclusive, world-wide right to the use of “Velocity,” a software information optimization platform that
unifies access to secure business repositories, presents relevant information and enables knowledge sharing across an enterprise, for
use in connection with computer applications currently being developed by the Company.
So the first part of the agreement between Vivisimo and Yippy granted a non-exclusive, world-wide right to the use and sell of “Velocity.”
Second Part of the Agreement
In connection with the License Agreement,
the Company acquired the domain Clusty.com, a metasearch engine, and all sub-domains and scripts related thereto, pursuant to a related
purchase agreement (the “Purchase Agreement”). Vivisimo agreed not to compete with the Company in the consumer search area for a
period of two years. Total consideration paid to Vivisimo under the Purchase Agreement and License Agreement was approximately
$5,550,000 (the “Acquisition Price”). In May 2012, Vivisimo was acquired by IBM.
You claim that Vivisimo was split in 2 and "Clusty" sold to Yippy and "Velocity" was sold to IBM. This agreement clearly shows that Yippy has a binding contract allowing them permission to use and sell "Velocity"
