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Thursday, March 26, 2020 8:50:37 AM
Apple License Transaction
On August 5, 2010, we entered into a license transaction with Apple pursuant to which (i) we contributed substantially all of our intellectual property assets to a newly organized special-purpose, wholly-owned subsidiary, called Crucible Intellectual Property, LLC (“CIP”), (ii) CIP granted to Apple a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in the field of consumer electronic products, as defined in the license agreement, in exchange for a license fee, and (iii) CIP granted back to us a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in all other fields of use.
Under the agreements relating to the license transaction with Apple, we were obligated to contribute, to CIP, all intellectual property developed by us through February 2016. We are also obligated to maintain certain limited liability company formalities with respect to CIP at all times after the closing of the license transaction.
This is a perpetual LICENSE to commercialize LQMT alloys for all patents up to Feb 2016.
If this is the case:
Can we make money MANUFACTURING for Apple any CE products with CIP formulations and are any formulations created by LQMT AFTER February 2016 free from the CIP restrictions, allowing us to make licensing fees as well as manufacturing fees from Apple and any other company?
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