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Re: Poptech post# 192662

Monday, 10/26/2009 5:41:09 PM

Monday, October 26, 2009 5:41:09 PM

Post# of 326434
The only thing "fully paid" means is that Neomedia gave up something of value that Scanbuy accepted as complete consideration for the license. Some quid pro quo. Since the license of Scanbuy's tech to Neom was part of a broader deal involving at least one other agreement and the termination of two suits, it may just mean that the quid pro quo was this:

Neomedia agrees to drop its suit against Scanbuy if: Scanbuy licenses Neom's IP, Scanbuy drops its suit against Neom, Scanbuy executes a license of its IP to Neom. In this case the "payment" referred to in "fully paid" could - and probably does - refer solely to Neom's dropping its suit against Scanbuy. That was almost certainly the "payment" that Neom gave for the deal entire: Neom agreed to drop its suit. And an agreement to give up a cause of action is good consideration in every state in the Union.

But go ahead: Ask management on the next CC: Did Neom pay cash to Scanbuy or give Scanbuy anything of value other than agreeing to drop the suit against Scanbuy?

Ask.

Any legal analysis I post is not a formal legal opinion and may not be relied on by anyone for any purpose. If you want legal advice you can rely on, hire a lawyer.

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