Alleged Breach of Funding Agreement Leads Lender to Charge Former Client with Infringement of Patent Transferred as “Collateral”

  • September 6, 2020
  • Category: In Case You Missed It
    Market Sector: E-Commerce and Software

In early August, Harper Advance LLC, a California lending company, turned around and sued William Spencer Askew and a long list of defendants (2:20-cv-07041) headquartered in Georgia and allegedly managed by Askew, for infringement of a patent that Askew assigned to the plaintiff in late June. Harper Advance pleads that it “provides working capital financing for merchants in a variety of industries, including merchants involved in e-commerce, trucking, logistics, shipping, and freight hauling”, alleging that it did so for Askew and the collective defendants with repayment due earlier this summer. Through default, the plaintiff pleads that it is “entitled under the law to preclude Defendants from further use of [the transferred patent] and to obtain damages from Defendants for their unauthorized continued use”, as well as to seek, if it prevails, “reasonable attorney fees, which may include a contingency fee of up to 40% of the amount claimed, expert fees, costs of suit, and prejudgment interest at a rate of 16% per annum (or the maximum rate permitted by applicable law if lower)”.


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