Vadim Korovchenko v. Radiate Athletics Inc. - Index # 651920/2019 - New York County Supreme Court
Oct 02, 2020OUTCOME: Alexander Paykin represented Plaintiff and obtained all of the relief Plaintiff sought. See Decision & Order of the Hon. Melissa Anne Crane, J.S.C. as NYSCEF Document 58
An action initially to recover funds paid for the production of custom clothing which changed colors based on body heat and/or perspiration, the action was initially settled with an agreement under whi ... ch defendants were to pay liquidated damages that increased if not timely paid and which were backed by the pledge of defendants' patent for the color changing material. After defendants defaulted on the settlement agreement, the action turned into one of collecting on the collateral patent, with defendants attempting to transfer the patent away to third parties to avoid losing it as collateral. The action returned to the NYS Supreme Court for litigation as to the ownership of the collateral and for an injunction preventing defendant from making any further attempts to transfer the patent with the USPTO. Alexander Paykin represented the Plaintiff and sought to obtain both the collateral patent and the related derivative patents for Plaintiff and to enjoin defendants from further attempts to make claims to the patent and derivative patents.