LOUISVILLE, Ky. (PRWEB) October 04, 2018
Genscape, the leading global provider of real-time data and intelligence for commodity and energy markets, recently filed suit against Live Power Intelligence (LPI) and LPI’s CEO, former Genscape employee Bill Townsend, for misappropriation of trade secrets and breach of contract, among other things. The claims concern Townsend’s access to trade secrets and confidential information during his senior level tenure at the company, and his use of Genscape’s proprietary information at LPI. During his six years with Genscape, Townsend served as the Managing Director of Power Product Development and the Senior Vice President of Product. Genscape holds critical trade secrets relating to its power product line and was the first company to build this type of real-time product for power market customers.
The suit, filed with the U.S. District Court for the District of Colorado, seeks to enjoin LPI from using Genscape’s confidential and trade secret information and to recoup damages associated with LPI’s misappropriation, among other things.
Founded in 1999, Genscape is the leading global provider of real-time data and intelligence for commodity and energy markets, driven to improve market transparency and efficiency.
Today, Genscape operates the world’s largest private network of in-the-field monitors, and added satellite reconnaissance, artificial intelligence, and maritime freight tracking to its data acquisition capabilities. Genscape delivers its unique brand of unsurpassed market intelligence across the commodity and energy spectrum including power, oil, natural gas, petrochemical and NGL, agriculture, biofuels, and maritime freight.