Friday, March 13, 2015

IP dispute over business plan for a cruise line

DestnyConnect mentions an ip dispute involving Richard Branson

According to Veich, he had drawn up a business plan for a new cruise line and presented it to the Virgin Group in 2011 and the agreement was that if the cruise line turned out to be profitable, Veich would receive about $315m (R3.8bn) and if not, he would receive nothing.

At the time of the agreement, it was estimated that Virgin could make around $427m (R5.2bn) and $483m (5.8bn) in profits over 10 years. Veich claims that the Virgin Group has since gone back on this agreement and says he only wants what is due to him.



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