Radient Pharmaceuticals Corporation fka RXPC

[lakeshore555]

UNI Agreement cannot go to court.

12.1 Each Party waives, to the fullest extent permitted by applicable law, any right it may have to a trial by a court of competent jurisdiction, including a trial by jury, with respect to any dispute (as defined in Section 12.2).

12.2 With regard to any dispute arising under this Agreement (“Disputes”), the Parties agree to discuss the possibility of binding mediation, and if the Parties fail to agree to binding mediation or if non-binding mediation fails to resolve the dispute within 30 days, the Parties agree to submit disputes for binding arbitration. It is expressly intended by the Parties that disputes shall be submitted to arbitration and not to litigation.

12.3 The arbitration shall be commenced by written demand for arbitration to the other Party with a copy to the American Arbitration Association (“AAA”) in Orange County, California.

If Radient doesn't give UNI the equipment and know-how to manufacture DR-70, UNI is pretty much ripped off. UNI cannot sue Radient, and Arbitration won't get them anywhere -- Radient doesn't pay their bills.

UNI is taking a big chance here. However, the payoff could be significant: if UNI gets the technology, they can terminate the agreement and manufacture/sell DR-70 in Asia.

I don't understand WIPO. The SEC filing says the WIPO patent app is Pending, but the patentscope website makes it look like it's published.

http://patentscope.wipo.int/search/en/detail.jsf?docId=WO2010114514&recNum=1&maxRec=1&office=&prevFilter=&sortOption=&queryString=US2009%2F038833&tab=PCT+Biblio

Looks to me like India hasn't been covered since 2008:

http://patentscope.wipo.int/search/en/nationalphase.jsf