03 May 2016, India :
Shrikant Kunden, a Pune-based serial entrepreneur and founder-director of Last Mile Digital Solutions Private Limited, on Tuesday accused Indian Angel Network (IAN) of passing on his intellectual property to third party.
Shrikant Kunden, a Pune-based serial entrepreneur and founder-director of Last Mile Digital Solutions Private Limited, on Tuesday accused Indian Angel Network (IAN) of passing on his intellectual property to third party.
Kunden says a technology named “Digital Location System (DLS)” that was filed with the Patents Office in 2010, Kunden says he entered into a discussion with IAN for possible funding, where he shared techno-functional-commercial documents of the project.
“The allegations are completely baseless. Zippr has built its location encoding technology independently and has never spoken to the company representative nor was aware of his work until we received a clarification request from him in June 2015. Our lawyers evaluated the case and found it factually incorrect” said Zippr, Founder and CEO, Aditya Vuchi.
IAN added that it is India’s first and now the world’s largest Angel Investor Group which brings together successful entrepreneurs and CEOs who share a passion to enable more early stage businesses to create scale and value.
“Subsequently, our legal team has reviewed the matter, evaluated the merit of this accusation and found it to be devoid of any substance. We have also filed a pre-grant opposition questioning company representative’s novelty and sent the required notice to him in Sep 2015 to which there was no response. We intend to pursue the matter seriously and take necessary legal action,” said the IAN and Zippr statement.
Source : economictimes.indiatimes.com
Image : chemanager-online.com