It would be like selling a car for ten bucks one year and then demanding and getting a new agreement the next year for the same car even though ownership has already been transferred. The agreement in 1991, in the opinion of the author of this paper, was basically window dressing for what had already occurred the year prior. As such, it is not enforceable.
Final Opinion
It surely seems the three appellants were trying to rewrite the outcome of the invention, the patent and the ensuing agreements after the fact. They would have had a compelling case had they claimed a breach much closer to 1991 than they did and it would be even better if they were not signatories to the letter from 1990 for the investors. Had they not signed that 1990 letter, it stands to reason the 1991 agreement of transfer would have been the real transfer of ownership and therefore would be the one to enforce.
Conclusion
The appellants really should have thought out what they...
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