Austin, TX (PRWEB) October 24, 2011
Versata is pleased to announce that the federal court in the United Arab Emirates has now joined a United States federal bankruptcy court and a Japanese court in confirming Versata’s exclusive ownership of Think3’s intellectual property.
This time, the Federal Court of First Instance in Abu Dhabi not only recognized Versata’s exclusive ownership, but also entered a sweeping injunction prohibiting Dr. Andrea Ferri, the Italian trustee for the Think3 bankruptcy proceeding in Bologna, Italy, from continuing to possess, copy, make or sell any of Think3’s intellectual property.
The UAE federal court ordered that the Italian trustee immediately cease his activities relative to Think3. It directed the Italian trustee to cease using his website to distribute or publish Think3’s intellectual property and further instructed the UAE telecommunications commission to block the Italian website (Order on the Petition No. 356/2011).
This UAE Court order comes on the heels of the Versata landmark win in the U.S. courts in mid-September (United States Bankruptcy Court for the Western District of Texas, Austin Division - Case No. 11-11925-HCM and No. 11-11252) and in Japanese court in August (Tokyo District Court, 8th Civil Division - 2011 (Recognition) No. 3, Chief Judge Tasuku Daimon).
“We are delighted that the federal court in the UAE has reviewed the law and the facts in this case and has validated Versata’s unwavering position: that Versata is the sole and exclusive owner of Think3’s intellectual property,” says Austin Scee, General Manager for the Think3 Division of Versata. “With courts in the US, the UAE, and Japan all reaching the same conclusion, our hope is that the customer confusion is over and that we can get on with the business at hand -- providing top-notch products and support to our Think3 customers and partners worldwide.”
The U.S. court confirmed Versata’s sole and exclusive ownership of the Think3 intellectual property in a trial initiated by Dr. Ferri. Represented by a large American law firm of more than 700 attorneys, the Italian trustee tried but failed to get U.S recognition of Italy as the center of main interest for Think3 and the location of the Think3 intellectual property. Think3 has a branch in Italy but the U.S. court ruled Think3’s main interest, customer contracts, intellectual property and accounts receivable are in the United States, not Italy.
In his losing effort, Dr. Ferri submitted evidence considered in the two-day U.S. trial. So did Versata. Versata’s evidence included the testimony of Professor Francesco Vassalli, a leading expert on Italian bankruptcy law, who testified that the Italian trustee’s conduct has been highly unusual because, for example, the Italian Trustee’s claim that he can control the assets of a debtor located outside the borders of Italy is not only contrary to well-settled Italian law, but has no historical support whatsoever in Italian jurisprudence.
The decision of the U.S. Court was a complete vindication for Versata. Among many findings, the U.S. Court ruled: the U.S. court does not recognize Dr. Ferri’s proceedings; the U.S. court maintains jurisdiction over the Italian trustee; Versata is the exclusive owner worldwide (excluding only China) of all right, title and interest in and to all of the intellectual property; and Rebecca A. Roof is the independent and court-approved President and Chief Restructuring Officer of debtor Think3. China was excluded by the court because it was also excluded in the Versata-Think3 purchase contract in 2010.
A Japanese court in August also recognized the U.S. court’s jurisdiction over the Think3 case and thus adopted the U.S. finding that Versata’s sole and exclusive ownership of the Think3 intellectual property.
Think3 is an American company, incorporated in the United States more than a decade ago and based in the United States ever since. Since its inception, Versata FZ, LLC has been a Dubai company. The sale of Think3’s intellectual property was a transaction between Think3, the American-based seller, and Versata, the Dubai-based buyer. Thanks to the latest win in Dubai, the courts in these key jurisdictions—buyer and seller--have now spoken with one voice agreeing Versata is the sole and exclusive owner of Think3’s intellectual property.
To read a certified translation of the UAE order, the rulings from the U.S. Bankruptcy Court and the rulings from the Japanese court, please visit http://www.think3.versata.com/rulings.
About the Versata Family of Companies
With a global presence covering 45 countries, Versata solves the most complex business problems for the world's largest organizations. Versata’s corporate family comprises a number of leading enterprise solution providers, including Think3, Versata, Inc., Artemis International Solutions Corporation, Gensym Corporation, Clear Technology, Inc., Everest Software, Tenfold Corporation, Ecora Software, Inc., and AlterPoint, Inc. Versata distinguishes itself in the software industry by focusing on customer priorities as driven by value delivered. Versata's market-leading Customer Success Program ensures customer involvement in product decisions and business priorities and provides twice-yearly opportunities for customers to score Versata's performance against commitments. Versata's world-class engineering capability ensures substantive and valuable product releases, continuous innovation and repeatable value propositions. For more information, visit http://www.versata.com.
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