‘SDNY Rejects Lady Duff Argument, Knee-Capping Plaintiffs’

“In Sharkey v Zimmer USA Inc, the District Court for the Southern District of New York granted defendants’ motion to dismiss, notwithstanding Plaintiffs’ invocation of the seminal case, Wood v Lucy, Lady-Duff Gordon. Plaintiffs Sharkey and Leinberry (Plaintiffs) invented subchondroplasty (SCP), a minimally invasive surgical technique. In 2008, in exchange for $100,000 and a 3% royalty on sales of products using intellectual property related to SCP, Plaintiff’s transferred their SCP intellectual property rights to Knee Creations. Knee Creations was obligated under the 2008 Agreement to use its ‘best efforts’ to achieve certain milestones relevant to the marketing of SCP …” (more)

[Jeremy Telman, ContractsProf Blog, 7 September]

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