Tuesday 3 July 2012

Who will save to Company?

Upaid, a privately owned telecom company registered in the British Virgin Islands. Satyam Enterprises Solutions had executed a project for developing software for its mobile prepaid technology. As in the practice in the industry, after the work was done, Upaid went to register the patent for this technology.

Imagine its shock when it found that two other telecom companies, Qualcomm and Verizon, were already using this technology. Either Satyam or some of its engineers had sold off the technology to Qualcomm or Verizon after doing the work at Upad's expenses. Upaid filed a $1 billion suit in Texas; the case was still on when Ramalinga Raju confessed.

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