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Old 10-22-2011, 08:27 PM   #41 (permalink)
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Originally Posted by No Mercy Ever View Post
From what I understand, it was that they had gotten a loan from the bank to get new equipment for manufacturing. Everything was going good, they were making the loan payments every month, on time, never late. But then, with the economy doing it's number, the bank called for the loan to be paid back all at once, right then and there. They could not do it, so they went to Chapter 11 bankruptcy. This changed to Chapter 7. But, the patent issue, if they had not spent $5 million on enforcing their broad form patent, then they would have said capitol to either have bought the equipment without having to resort to a loan, or able to pay the bank back when the called the loan due.
Heh. So karma made a pincer attack?

So, if they hadn't been *******s about the patents and sinking all that money into lawyers, they wouldn't have needed the loan from the bank.

I'm gonna go ahead and blame the bad mortgages and the rest of the economic crash on SP too, because, well, why the hell not.
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Old 10-28-2011, 05:30 PM   #42 (permalink)
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Awesome read thank you so much for the information.

I find it really interesting that both of the major parties involved SP and WDP are now fragments of what they used to be.

Also I put this Professor in my top 5 paintball game changers after I read that, sorry jack
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Old 10-28-2011, 05:36 PM   #43 (permalink)
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I assume the name (SP) went with the bankruptcy.

And you're right... Gog was created in the 11th hour of the impending SP bankruptcy as a way to buy back some aspects of SP from the bank for a fraction of the value. As mentioned above, I'm told by a fairly reputable industry source that the Gardners licensed rights from SP to their other companies before the bankruptcy was finalized. They're shrewd businesspeople... at times.
Once the patents changed ownership, wouldn't that void the previous agreements SP had? I would imagine there would at least be an option for the new owners so that the previous owners couldn't see the writing on the wall and decide to hose the next owners with $.01/gun contracts right as things went under.
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Old 11-04-2011, 07:33 PM   #44 (permalink)
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Patent license agreements usually run for a certain date range, so given the usual deception and fraudulent activities of SP's owners... they likely signed license agreements for their "new" company with a very long time period... say till the patents expire. And as to previous agreements, they'd still be valid except now the royalties are going to whomever owns the patents (so WDP and a Bank, though as co-owner WDP may likely have approached the bank to purchase the other share of the patent during the bankruptcy proceedings).
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Old 11-05-2011, 02:57 PM   #45 (permalink)
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Originally Posted by DeeEight View Post
Patent license agreements usually run for a certain date range, so given the usual deception and fraudulent activities of SP's owners... they likely signed license agreements for their "new" company with a very long time period... say till the patents expire. And as to previous agreements, they'd still be valid except now the royalties are going to whomever owns the patents (so WDP and a Bank, though as co-owner WDP may likely have approached the bank to purchase the other share of the patent during the bankruptcy proceedings).
Actually, Kee owns the patent currently that SP had, and WDP/APS made a deal with SP a while back so that SP now had the whole patent, instead of half of it, when they filled for bankruptcy. So that means that Kee has the patent in it's entirety. And with APS closing it's doors...

Besides, even if AKA and Kee talked, and AKA was able to make electro markers again, they would be the Vikings and Excals from 2004, since the innovation that was AKA is long gone now with the son and a one or two other key people being gone. Hell, even Evil M's aren't complete, and had to have parts sourced to be made complete.
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Old 11-05-2011, 03:02 PM   #46 (permalink)
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Originally Posted by DeeEight View Post
Patent license agreements usually run for a certain date range, so given the usual deception and fraudulent activities of SP's owners... they likely signed license agreements for their "new" company with a very long time period... say till the patents expire. And as to previous agreements, they'd still be valid except now the royalties are going to whomever owns the patents (so WDP and a Bank, though as co-owner WDP may likely have approached the bank to purchase the other share of the patent during the bankruptcy proceedings).
Most such contract contain language to the effect of "to Company X and its assigns, successors, transferees, etc." in part so the contract rights can be sold if desired at some point. Also, WDP sold its rights to that patent before the bankruptcy was filed.

*Edit-No Mercy beat me to that last part.

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