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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 32086
Experience:  Over 5 years in practice
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A Company GR develops software items and people. The IP is

Customer Question

A Company GR develops software for tracking items and people. The IP is develpoed for GR by a technology team in Germnay, who have now formed a new company 43g; GR will only have the right to use theie existing IP not develop it further or support it- this can only be done by 43g.
A contract has been signed to provide for this; it is now being disputed as the terms are so onerous that GR will not be able to compete.
Can you advise whether GR have any remedies:
- under contract law to have the conatract rescinded
- unfira terms
What Acts cover the contract- services of goods?
Could you advise on the basis GR will not become insolvent.
If GR soon becomes insolvent we believe the directors could be transferrign the IP at an undervalue, and defrauding creditors, but in the first instance we would like advice on the basis that GR remains solvent.
With many thanks for your advice
Amanda Wells
Submitted: 1 year ago.
Category: Law
Expert:  Alex J. replied 1 year ago.

Hi thank you for your question and welcome my name is ***** ***** I will assist you. What is the nature of the contract? Is it a license? Can you send the wording of the non compete? Is the contract a German law contract? Is the transfer of IP to a new company being done as a pre packaged administration sale?