IS IT LEGAL TO SELL PATENT RIGHTS TO THE PUBLIC?
On August 8, 2017; that is barely 10 days ago today, Henates Analysis published the post titled "Mobil changes its name"
It was a story based on efforts to educate investors at the Nigerian stock exchange that a quoted company, Mobil Oil Nigeria ltd had changed its name to Double One Ltd following the successful acquisition of 60% interests of ExxonMobil by NIPCO Ltd, an unquoted Nigerian company.
Within days, the post turned out to be one of the most popular since this blog Henates.blogspot.com debuted back in 2015 and by today's count, it had recorded 135 views within days.
Just as Henates was wondering how come it become that popular, a viewer wrote in through WhatsApp with a question which simply said: Now that Mobil has changed its name, what happens to Comand Clem Nigeria ltd?
Of course, we had not heard of that company but further enquiry unearthed something we found very interesting which also raised a good question in need of answers: Is it legal to sell rights to benefits of a patent to the public as an investment?
This is because as the facts emerged, it looked like Comand Clem Nigeria ltd has been involved in a patent right infringement case with Mobil Producing Unlimited with Comand clem claiming exclusive rights an invention: Anti corrosive special paint. Note though that the name change affects Mobil oil Nigeria Ltd, the downstream petroleum products marketing company and not Mobil Oil Producing Unlimited.
The case looked like, long drawn one and reportedly, was in 2013 mentioned by one Ufuoma Akpotaire, a Masters of law holder, in a review of 10 famous cases of Nigerian intellectual property disputes and she reportedly said then that an appeal and counter appeal had been filed at the Supreme Court by both parties to the dispute.
Although the whole matter is loaded with facts and claims that may give cause to worry over the claims and counter claims in the reported dispute, Henates is not here concerned with any of these. The concern here is the fact that the said Comand Clem Nigeria has a scheme on line through which it sells or sold portions of the rights over this patent to members of the public reportedly turning them into patentees.
Membership is in categories. As an ordinary member, you are entitled to N30,000 monthly for life and direct employment. For that you pay N30,000.
Next is the Prince and Prices category which costs N50,000 plus 30,000 ( we are stating as stated in the site) and be entitled to N100,000 basic and N400,000 total allowance.
Other categories exist and include Lady and Sir; Noble; Baron and Knight. What you pay is between N100,000 plus N30,000 for Lady and Sir and N3m plus N30,000 for the Knight. The benefits too range from N300,000 monthly plus allowances to N500,000 basic and over N800,000 total allowance.
From responses in the Nairaland Forum created for the patentees, it was obvious that the scheme or offer has been on for years and some people have become part of it by paying up as required.
This is likely because an estimate of the amount due from Mobil Producing if Comand Clem wins the case is $46bn. Already, Henates gathered from the Nairaland feedbacks that ruling at the Supreme court was not in Comand Clem Nigeria's favour and believing this is due to in-fighting within the directors, the Patentees Forum, Henates gathered, has decided to approach the Supreme court again.
Now the question is: Is this a legal arrangement or a scam? Comand Clem Nigeria ltd has been registered by the Corporate Affairs Commission of Nigeria since September 13, 1999 with an Uyo address and registration number 364181.
It was a story based on efforts to educate investors at the Nigerian stock exchange that a quoted company, Mobil Oil Nigeria ltd had changed its name to Double One Ltd following the successful acquisition of 60% interests of ExxonMobil by NIPCO Ltd, an unquoted Nigerian company.
Within days, the post turned out to be one of the most popular since this blog Henates.blogspot.com debuted back in 2015 and by today's count, it had recorded 135 views within days.
Just as Henates was wondering how come it become that popular, a viewer wrote in through WhatsApp with a question which simply said: Now that Mobil has changed its name, what happens to Comand Clem Nigeria ltd?
Of course, we had not heard of that company but further enquiry unearthed something we found very interesting which also raised a good question in need of answers: Is it legal to sell rights to benefits of a patent to the public as an investment?
This is because as the facts emerged, it looked like Comand Clem Nigeria ltd has been involved in a patent right infringement case with Mobil Producing Unlimited with Comand clem claiming exclusive rights an invention: Anti corrosive special paint. Note though that the name change affects Mobil oil Nigeria Ltd, the downstream petroleum products marketing company and not Mobil Oil Producing Unlimited.
The case looked like, long drawn one and reportedly, was in 2013 mentioned by one Ufuoma Akpotaire, a Masters of law holder, in a review of 10 famous cases of Nigerian intellectual property disputes and she reportedly said then that an appeal and counter appeal had been filed at the Supreme Court by both parties to the dispute.
Although the whole matter is loaded with facts and claims that may give cause to worry over the claims and counter claims in the reported dispute, Henates is not here concerned with any of these. The concern here is the fact that the said Comand Clem Nigeria has a scheme on line through which it sells or sold portions of the rights over this patent to members of the public reportedly turning them into patentees.
Membership is in categories. As an ordinary member, you are entitled to N30,000 monthly for life and direct employment. For that you pay N30,000.
Next is the Prince and Prices category which costs N50,000 plus 30,000 ( we are stating as stated in the site) and be entitled to N100,000 basic and N400,000 total allowance.
Other categories exist and include Lady and Sir; Noble; Baron and Knight. What you pay is between N100,000 plus N30,000 for Lady and Sir and N3m plus N30,000 for the Knight. The benefits too range from N300,000 monthly plus allowances to N500,000 basic and over N800,000 total allowance.
From responses in the Nairaland Forum created for the patentees, it was obvious that the scheme or offer has been on for years and some people have become part of it by paying up as required.
This is likely because an estimate of the amount due from Mobil Producing if Comand Clem wins the case is $46bn. Already, Henates gathered from the Nairaland feedbacks that ruling at the Supreme court was not in Comand Clem Nigeria's favour and believing this is due to in-fighting within the directors, the Patentees Forum, Henates gathered, has decided to approach the Supreme court again.
Now the question is: Is this a legal arrangement or a scam? Comand Clem Nigeria ltd has been registered by the Corporate Affairs Commission of Nigeria since September 13, 1999 with an Uyo address and registration number 364181.
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