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Apple & HTC's new patent agreement will be voided if either company gets acquired

Apple, HTC's new patent agreement will be voided if either company were to be acquired

| Business, Financial & Legal News | Posted: Nov 22, 2012 5:33 am

Last week saw ink to paper between Apple and HTC, where the two companies signed a new patent agreement. This new patent agreement included a special clause, that would see the agreement invalidated if either company is acquired by another company.

 

TweakTown image news/2/6/26888_03_apple_htc_s_new_patent_agreement_will_be_voided_if_either_company_gets_acquired.jpg

 

I don't see Apple being acquired anytime soon, but I do see HTC being acquired in the near future with all of the problems they're experiencing right now. This means that Samsung could come in and scoop HTC up, thinking they'd end their legal battles with Apple, but it would definitely not be the case. The clause reads:

 

In the event of a Change of Control of a party. This Agreement shall automatically terminate unless otherwise agreed in writing by the Parties, effective immediately prior to such Change of Control.

 

The definition of a "Change of Control" is where the original company is left with less than 50% of the voting power, or if the original company is merged with a third-party. This licensing agreement could be transferred to the company acquiring HTC (again, I don't see Apple being acquired), only if Apple and HTC grant the company with special permission.

NEWS SOURCE
Bgr.com

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