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Infolawyer, Attorney
Category: Business Law
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Im an Inventor who entered a contract permitting the

Customer Question

I'm an Inventor who entered a contract permitting the use of my patented technology in return for monetary compensation. The contract was entered in August of 2004 with payment to start January 1,2005. My technology was used without the payment being made. What is the statute of limitation on filing suit to collect.
Submitted: 9 years ago.
Category: Business Law
Expert:  Ellen replied 9 years ago.

Where was the contract entered into. Are you a resident of the same State? Does the contract indicate what State's law's govern it?
Customer: replied 9 years ago.
This was a verbal contract to be put into written form by the Licensee1-1-2005. Both the Corp. and I reside in CA. I was a consultant and was induced to apply my patented technology on the promise to pay me a royalty of $15,000.00 per month plus 2.5% on sales exceeding $5MM/mo. The contract will be attested to by the officers of the Corp in charge at that time. The officers were fired, the written contract didn't happen but was continually promised and my consultant services were terminated August 2005. Negotiation to enact the license has been ongoing (I suspect as a ruse).