Chemical Co. Sues Seller Over IP Claim In $240M Deal

By Tiffany Hu (July 29, 2021, 6:21 PM EDT) -- A Kansas oilfield company has filed suit in Delaware Chancery Court against the founder of one of the companies it purchased in a $240 million deal, saying that he launched a competing business using trade secrets that he now claims are public information.

In a new lawsuit filed Tuesday, CES Energy Solutions Corp. said that it had agreed in 2013 to purchase Jacam Chemical Co. and its assets, which included "all intellectual property" such as patents, trademarks, copyrights and trade secrets, among other things.

At the time, CES said that former Jacam CEO Gene Zaid and COO Jason West negotiated the...

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