I am in a an agreement with a very major corp. that is not fulfilling their end of the agreement. Can I sue for full value?

I signed a 10 year contract with a major corporation approx. 4 years ago. I liscensed a patent to them, but they dragged their feet getting it to the market and then ignored my input totally. Now they are not responding at all. Can I sue them for the amount that they owe me to this point($40,000), or could I go for the entire contract minimum amount ($100,000)due to their lack of effort. I feel that they were negligent in their duties and now have missed military contracts etc...
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Answers (2)

Pamela Koslyn

Pamela Koslyn

Contributor Level 10
You need to have your contract reviewed by a qualfied patent/business lawyer, perhaps by the lawyer that negotiated this contract for you in the first place, to determine the scope of your rights. Your contract may have required the corporation to bring the product to market within a prescribed time and to give you input, or not, and there may be other terms that were breached.

Your rights for damages for breach of this contract, to be paid the "minimum amount," or possibly to rescind (cancel) the contract for lack of consideration or on some other theory to get your patent rights back, are all dependent on the contract. Likewise, your dispute resolution options - do you have to give them 30 days to cure? do you have to arbitrate? -- will be determined by the contract itself.

Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.
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Glenn M. Lyon

Glenn M. Lyon Avvo Pro

Contributor Level 6
Possibly, but calculating your damages is probably more complicated than just what the company is supposed to pay you. It is not necessarily what they pay you, but the profits derived from the contract. The terms of the agreement itself might also determine the damages amounts.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.
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