Frayed Family IP Royalty Biz Gets Chancery Appraisal Look
Law360 (September 13, 2019, 5:53 PM EDT) -- A small group of advisers has taken advantage of frayed family relations to gain control of a New Jersey-based venture that distributes royalty payments for patents, according to a stock appraisal petition filed by one of the family members in Delaware Chancery Court on Thursday.
Timothy J. Harris filed the petition to appraise one of his 38 shares of stock in Harris FRC Corp., a venture started by his late father, Robert H. Harris, to receive and distribute to stockholders royalty payments for patent rights associated with pharmaceutical products the late family patriarch developed. The company's stockholders are members of — or...
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