5th Circ. Reinstates Contract Breached By Canon

Law360, New York (July 28, 2008, 12:00 AM EDT) -- Canon Inc.'s terminated patent license with Nano-Proprietary Inc. over flat-panel TV technology has been reinstated by a federal appeals court, which ruled that an “irrevocable” contract means exactly that, even though Canon was found to have breached the contract.

The U.S. Court of Appeals for the Fifth Circuit on Friday reversed a 2007 ruling from the U.S. District Court for the Western District of Texas that Nano could terminate the 1999 contract after Canon breached it by forming a joint venture with Toshiba to develop Nano's...
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