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Apfel v. Prudential-Bache Securities Inc
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Plaintiffs devised an idea for a new computerized municipal securities system. Plaintiffs conveyed to Defendant their rights to the techniques and certain trade names. Defendant agreed to pay specific rate based on use of Plaintiff’s techniques. The Defendant tried to patent and get trademarks for the techniques, but there applications were denied. The Defendant said the ideas they bought had already been in the public domain at the time of agreement. Plaintiffs promised they had not previously disclosed the techniques. After several years, Defendant refused to continue payments.
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