PRM Energy Systems owned patents licensed to Primenergy to use in the United States. Their contract stated

Question:

PRM Energy Systems owned patents licensed to Primenergy to use in the United States. Their contract stated that “all disputes” would be settled by arbitration. Kobe Steel of Japan was interested in using the technology represented by PRM’s patents. Primenergy agreed to let Kobe use the technology in Japan without telling PRM. When PRM learned about the secret deal, the firm filed a suit against Primenergy for fraud and theft. Does this dispute go to arbitration or to trial? Why? [PRM Energy Systems v. Primenergy, 592 F.3d 830 (8th Cir. 2010)] (See Alternative Dispute Resolution.)

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Law Text And Cases

ISBN: 9780357129630

15th Edition

Authors: Kenneth W. Clarkson, Roger LeRoy Miller

Question Posted: