NNPP holds two patents on that list -- the item that's #2 on that list is NNPP's also. It's currently in the courts. And there is more than an excellent chance that NNPP is about to win in court over Till Keesmann, too.
The Canon trial date is March 2007. And right now, they don't even have a wooden leg to stand on
Keesmann Status
We want to keep you up to date on our litigation, so we have provided the following summary and current status of the case.
In May 2006, we filed suit in the U.S. District Court for the Northern District of Illinois against Till Keesmann, a German citizen who in 2000 granted us an exclusive license to certain of his U.S. and European patents in carbon nanotube cathode technology. This license became perpetual in 2004 when we made the final minimum royalty payment due under the license agreement. Last year, Keesmann conveyed part of his interests in the Exclusive License to investors associated with a German patent evaluation firm, IP Bewertungs AG (“IPB”). Thereafter, IPB approached us with proposals to buy or auction our rights to Keesmann’s patents. On March 20, 2006, we announced a letter of intent to form a joint venture with a leading Asian electronics Company, Da Ling Co., Ltd., to develop display products utilizing our intellectual property. Two days later, Keesmann purported to terminate the exclusive license that he granted to us six years ago.
Our May 2006 complaint seeks a declaratory judgment that Keesmann had no right to terminate the exclusive license, and we also filed for a Temporary Restraining Order and Preliminary Injunction to prevent Keesmann from taking any actions inconsistent with his obligations under the exclusive license. The Court granted a consent order that prevents Keesmann from licensing or selling the patents pending a preliminary injunction hearing and decision. The matter proceeded on an expedited basis and discovery is now completed. The motion is fully briefed and awaiting a ruling by the judge. After a ruling on the preliminary injunction motion, this case will either settle, or be scheduled for trial in 2007.
In June 2006, Keesman filed an Answer and Counterclaim, denying that the purported termination was null and void, and asserting a counterclaim that asks the court to find that we breached the exclusive license by not actively marketing the Keesmann patents, among other things. We seek a permanent injunction prohibiting termination of our perpetual license in these patents, or in the alternative, damages for the full value of benefits that the company conferred upon Keesmann over the six-year period when NPI paid him minimum royalties, prosecuted improvements in the Keesmann patents before the United States Patent & Trademark Office, and actively marketed Keesmann's patents. Upon advice of our counsel, we are unable to discuss, at the present time, the amount of potential damages that we would be due.
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