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Biotech / Medical : NNVC - NanoViricides, Inc.
NNVC 1.1900.0%Dec 26 9:30 AM EST

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To: Magnus1 who wrote (10962)8/22/2018 4:49:39 PM
From: HardToFind  Read Replies (1) of 12873
 
In short, I agree with BoredMember in post 10947 about the way Diwan structured the company and why. His intent was that TheraCour own all IP, and he has gone to great lengths to achieve that.

The thought that NNVC should own any technology or trade secret that might block TheraCour if NNVC goes bankrupt is in direct contrast to his statement below:
TheraCour cannot further license anything in our licensed products areas because of the breadth of the license. The licenses can revert only in the case of a default by NanoViricides. The terms of default are such that, effectively, TheraCour would be able to take the licenses back only in the event that NanoViricides files bankruptcy or otherwise declares insolvency and the inability to conduct its business. This structure is standard in the licensing world as it saves the IP from being blocked from commercialization in lengthy and potentially fragmentary bankruptcy proceedings.
I think Diwan has done everything possible to consolidate all IP with TheraCour. Again, the courts may see it differently at some point in the future, but there's no denying what Diwan's intent was. It's right there in black and white.
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