Billion Dollar Trouble for Satyam Computers
Thursday, May 15, 2008IT Outsourcing giant, Satyam Computer Services has landed itself into a Billion Dollar Trouble. Satyam was developing mobile payment system for UPaid. When UPaid's patent applications came up for review, Satyam Computers provided forged documents which resulted in Upaid losing a patent infringement case against Telecom giants Qualcomm and Verizon.
UPaid filed a case of fraud and forgery against Satyam Computers in Texas. Satyam sought the proceedings to be heard in London but the High Court of London dismissed the case. Satyam now has to goto trial in texas and chances of it losing the case are very very high.
So IT Managers, beware before you outsource work involving Intellectual Property Rights to India.
Labels: Satyam-IPR-Forgery, Satyam-UPaid-Lawsuit
Recent Corporate Earnings / Breaking News
- Market share of Life Insurance Companies in India
- Mphasis - De-listing Premium Likely to Return in S...
- NIIT new vendor for payment card industry
- Industrial Production at 6 year Low
- Voltamp Transformers - Electrifying Profits
- Punjab Tractors Ltd
- Inflation at 7.61%
- Inflation - Rising Cost of Doing Business in India...
- Bartronics India - Going Strong
- Todays Writing Products Limited
