I don’t really trust this website, they seem to be pushing you towards their paid services rather than providing useful news.
In any case, my understanding is that this is pretty old news. Also, it’s not J&J filing for bankruptcy, but a spin-off subsiduary that they created after the fact and have given all the IP rights to. They’ve lost every step of the way so far because what they’re trying to do is so transparent, they’re trying to shirk liability when at the time it was all theirs and theirs alone.
Also, it’s not J&J filing for bankruptcy, but a spin-off subsiduary that they created after the fact and have given all the IP rights to.
General Motors tried this same garbage tactic to get out of paying for their liability with mercury switches. General Motors declared bankruptcy, then created a NEW company called…General Motors. They transferred all the assets from old GM to new GM, and left all the liabilities with old GM. It took years, but a number of states sued and got a settlement.
I wish they hadn’t settled on these matters. Sometimes things need to be brought to court - and when the state is involved there’s less of an excuse not to.
I agree, but at least its better then GM getting away with it totally. The suit I’m aware of was only 12 states, so I’m assuming the other 38 got nothing from this settlement.
I don’t really trust this website, they seem to be pushing you towards their paid services rather than providing useful news.
In any case, my understanding is that this is pretty old news. Also, it’s not J&J filing for bankruptcy, but a spin-off subsiduary that they created after the fact and have given all the IP rights to. They’ve lost every step of the way so far because what they’re trying to do is so transparent, they’re trying to shirk liability when at the time it was all theirs and theirs alone.
General Motors tried this same garbage tactic to get out of paying for their liability with mercury switches. General Motors declared bankruptcy, then created a NEW company called…General Motors. They transferred all the assets from old GM to new GM, and left all the liabilities with old GM. It took years, but a number of states sued and got a settlement.
I wish they hadn’t settled on these matters. Sometimes things need to be brought to court - and when the state is involved there’s less of an excuse not to.
I agree, but at least its better then GM getting away with it totally. The suit I’m aware of was only 12 states, so I’m assuming the other 38 got nothing from this settlement.
So if a company files bankruptcy and they hold IP and patents that should void all IP and patents. At least that’s how it should work.
Imagine their compliance to laws if they lost IP and patents should they go bankrupt. 🤤