SHAREHOLDER DERIVATIVE LAWSUIT
That is the beauty of shareholder rights. Websafety is obligated to send out CEASE AND DESIST letters or they can be sued for negligence.
HOWEVER, a shareholder has a legal right to send a demand letter to Websafety to send out these CEASE AND DESIST letters timely. After the passing of the statutory time period, if Websafety fails to send out these letters, the shareholder, on behalf of Webafety, can send out these letters.
Furthermore, the shareholder can then initiate a "shareholder derivative lawsuit" against individuals infringing the patent.
The lawsuit alone will pop the stock and it will give Websafety great marketing since millions of shareholder's of the major carriers are going to hear of the lawsuits via their own company's reporting and via the media. HOWEVER, the best time for this suit will be after Websafety re-launches its website.
THEREFORE, I am reviewing Websafety's Patent claims with my attorney. If it is strong then my attorney will send Websafety a notice to send out the CEASE AND DESIST letters. If Websafety fails to send out those letters timely, my attorney will send out the letters and then commence a derivative suit against the infringers on behalf of Websafety. No permission is needed from Websafety (This is the beauty of shareholder rights).
"Derivative suits permit a shareholder to bring an action in the name of the corporation against parties allegedly causing harm to the corporation. If the directors, officers, or employees of the corporation are not willing to file an action, a shareholder may first petition them to proceed. If such petition fails, the shareholder may take it upon himself to bring an action on behalf of the corporation. Any proceeds of a successful action are awarded to the corporation and not to the individual shareholders that initiate the action."
