Question: Please analyze the Problem Below using the IRAC Method After developing a new metal alloy in 2019 that was lighter and stronger than most other

Please analyze the Problem Below using the IRAC Method

After developing a new metal alloy in 2019 that was lighter and stronger than most other alloys, and cheaper to manufacture than available alternatives, Abbot filed for and was granted a patent for his invention from the Patent and Trademark Office in January, 2020. He licensed the rights to use the alloy, under the name 'Stronger Steel' to a number of companies engaged in the manufacture of products with metal components, and subsequently filed "Stronger Steel" as a Trademark for his product with the Patent and Trademark Office.

After developing a new metal alloy in late 2019 that was not as light as Abbot's, but was slightly stronger Beatrice filed for and was granted a patent for her invention from the Patent and Trademark Office in June, 2020.She began to sell the license to use her alloy under the name "StronGRR Steel" with an associated picture of a cartoon gorilla baring its teeth, flexing its biceps, and trying to bend a barbell.

After developing a new process to make Abbot's metal allow, Catherine, a 15-year-old genius and prodigy in chemistry, applied for and was granted a patent for the process in December 2020. The end result of the process was completely identical to Abbot's alloy, but her process used 20% less energy than Abbot's method had used.

In April, 2021, Abbot contacted Catherine, and offered her $20,000 if she would sell the rights to her patent in the new process. $20,000 sounded like a lot of money to Catherine, so she met him during her school lunch one day, and after reading it carefully, signed a contract agreeing to sell all rights in the invention to Abbot. Abbot subsequently transferred $20,000 to her family's account.

Upon discovery of Catherine's sale of the patent, her parents were very upset, and explained to Catherine that they were set to earn at least $20,000 per year on licensing the patent, and so it had really not been wise to sell all rights in it for that amount.

Abbot hired a lawyer to sue Beatrice, claiming her trademark infringes his. Beatrice hired a lawyer to try to defend her trademarks, and ideally have Abbot's declared invalid. Catherine's parents hire a lawyer to see if there is any way they can get out of the contract to sell Catherine's patent. What would be the likely results of any lawsuits begun by the parties' lawyers?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Law Questions!