Before Digital Domain debtors are allowed to auction important patents relating to a 3D conversion process, Disney demands assurance that it will continue to have license on 3D movies.
The Walt Disney Co. is a tad worried that it might lose the right to distribute films including Tron: Legacy and Alice in Wonderland that incorporate 3D VFX.
Among the assets not yet sold are patents relating to the 2D-to-3D conversion processes. In October, DDMG sought a bankruptcy judge’s approval to auction off the intellectual property, which we previously highlighted as having the potential to cause trouble.That concern, as well as a fear that it might be hampered in its ability to create new 3D films, was expressed in the ongoing bankruptcy proceeding of Digital Domain Media Group, which sold most of its assets to Galloping Horse America and Reliance MediaWorks in September after filing for bankruptcy. If you are having some credit score problems and you have been declined credit this guide may help, it may help you out with any bankruptcy issues also.
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And so it follows that’s what has happened.
Disney has filed a limited objection to the IP sale, premised on the theory that it had made agreements with the 3D stereo studio In-Three, Inc., the originator of the patents in question. In late 2010, DDMG acquired In-Three. Now, the question is whether a non-exclusive, fully paid, royalty-free license agreement has survived and will survive a patent auction. When it comes to intellectual property concerns in business, it might be a good idea to get business lawyers, like those on 275 madison avenue NY, to intervene to help avoid problems from arising.
In papers submitted in the bankruptcy proceeding (which would be understood by any bankruptcy attorney in Lancaster, OH), Disney says, “The real dispute appears to concern the Disney Entities’ broader rights to use the In Three Patents to create new films and for other purposes — rights that arise from the G-Force Agreement.”
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In 2008 and 2009, Disney contracted In-Three to provide services on the films G-Forceand Alice in Wonderland. As part of that agreement, according to Disney, the studio got an option to be granted a full, nonexclusive license for the patents as well as extracted “covenant not to sue rights.”
Then, DDMG bought In-Three in 2010. The following year, DDMG sued one company for violating its patent, got Samsung Electronics to agree to license the 3D technology, and sounded the alarm through the industry.
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Source: Today3D
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