Who were the parties to the agreement? Gold calls Aventura "business partners."
SK PR states Aventura has received "the rights to intellectual property in the proprietary technology, processes, formulations, and marks of Berkeley Bio that have already been developed."
However, Gold is quick to point out: "SKTO remains, and will remain, the exclusive licensee of such intellectual property."
This is a world of licensor and licensee.
Which leads to the question: Who was the licensor before AVNE stepped into the picture? I had thought Berkeley Bio, creator of said intellectual property, was the master licensor. To add to that argument, there is this from Gold.
"We have become aware of incorrect speculation that somehow this announcement impinges upon the rights of SKTO to its use of the Berkeley Bio technology, and that is simply incorrect."
"The announced agreement/transfer does not permit Aventura to license others to use this intellectual property. In addition, the agreement announced by Aventura Equities does not cover future intellectual property developed by Berkeley Bio which will inure to the benefit of SKTO unless otherwise agreed."
Who then were the parties to the transfer agreement? BB and Aventura?
###
SKTO PR
Aventura has not acquired Berkeley Bio-Organic Research Laboratory ("Berkeley Bio"). Berkeley Bio remains a wholly-owned subsidiary of SKTO. In addition, although the transaction referenced resulted in Aventura receiving the rights to the intellectual property in the proprietary technology, processes, formulations, and marks of Berkeley Bio that have already been developed, SKTO remains, and will remain, the exclusive licensee of such intellectual property. The announced agreement/transfer does not permit Aventura to license others to use this intellectual property. In addition, the agreement announced by Aventura Equities does not cover future intellectual property developed by Berkeley Bio which will inure to the benefit of SKTO unless otherwise agreed.
SK PR states Aventura has received "the rights to intellectual property in the proprietary technology, processes, formulations, and marks of Berkeley Bio that have already been developed."
However, Gold is quick to point out: "SKTO remains, and will remain, the exclusive licensee of such intellectual property."
This is a world of licensor and licensee.
Which leads to the question: Who was the licensor before AVNE stepped into the picture? I had thought Berkeley Bio, creator of said intellectual property, was the master licensor. To add to that argument, there is this from Gold.
"We have become aware of incorrect speculation that somehow this announcement impinges upon the rights of SKTO to its use of the Berkeley Bio technology, and that is simply incorrect."
"The announced agreement/transfer does not permit Aventura to license others to use this intellectual property. In addition, the agreement announced by Aventura Equities does not cover future intellectual property developed by Berkeley Bio which will inure to the benefit of SKTO unless otherwise agreed."
Who then were the parties to the transfer agreement? BB and Aventura?
###
SKTO PR
Aventura has not acquired Berkeley Bio-Organic Research Laboratory ("Berkeley Bio"). Berkeley Bio remains a wholly-owned subsidiary of SKTO. In addition, although the transaction referenced resulted in Aventura receiving the rights to the intellectual property in the proprietary technology, processes, formulations, and marks of Berkeley Bio that have already been developed, SKTO remains, and will remain, the exclusive licensee of such intellectual property. The announced agreement/transfer does not permit Aventura to license others to use this intellectual property. In addition, the agreement announced by Aventura Equities does not cover future intellectual property developed by Berkeley Bio which will inure to the benefit of SKTO unless otherwise agreed.
