Schweizer Electronic Inks Patent Transfer Agreement with China Subsidiary
October 11, 2022 | Schweizer Electronic AGEstimated reading time: 1 minute
Schweizer Electronic AG and its subsidiary Schweizer Electronic (Jiangsu) Co. Ltd. based in Jiangsu, China (SEC) concluded a Contribution and Patent Transfer Agreement on 10 October 2022.
In accordance with the Agreement, Schweizer Electronic AG provides the share capital still to be contributed to SEC in the amount of EUR 15.2 million in the form of patents by way of contribution in kind to SEC.
In the Contribution and Patent Transfer Agreement, Schweizer Electronic AG transfers all rights to a Chinese patent to SEC and contributes the patent rights to the share capital of SEC by way of a contribution in kind as fulfilment of its contribution obligation. Thus, no purchase price or other remuneration is paid by SEC to Schweizer Electronic AG for the transfer and assignment of patent rights.
The transfer and contribution of patent rights will be completed as soon as all necessary approvals and certificates from the China National Intellectual Property Administration have been issued by the Chinese authority and sent to SEC. Following completion of the transfer and contribution, SEC alone will be responsible for maintaining, renewing and enforcing the patent rights.
The parties agree that the value of the patent rights that Schweizer Electronic AG contributes to SEC by way of a contribution in kind is EUR 15.2 million. In view of this, the Board of Management at Schweizer Electronic AG considers the provisions agreed in the contribution and patent transfer agreement to be appropriate and advantageous for Schweizer Electronic AG.
Schweizer Electronic AG currently holds around 87% of the shares in SEC. SEC is therefore a related party of Schweizer Electronic AG in accordance with Section 111a (1) Sentence 2 of the German Stock Corporation Act (AktG).
The Supervisory Board approved the conclusion of the Contribution and Patent Transfer Agreement and the measures required for its implementation on 19 September 2022.
Suggested Items
Warm Windows and Streamlined Skin Patches – IDTechEx Explores Flexible and Printed Electronics
04/26/2024 | IDTechExFlexible and printed electronics can be integrated into cars and homes to create modern aesthetics that are beneficial and easy to use. From luminous car controls to food labels that communicate the quality of food, the uses of this technology are endless and can upgrade many areas of everyday life.
Book Excerpt: The Printed Circuit Assembler’s Guide to... Factory Analytics
04/24/2024 | I-Connect007 Editorial TeamIn our fast-changing, deeply competitive, and margin-tight industry, factory analytics can be the key to unlocking untapped improvements to guarantee a thriving business. On top of that, electronics manufacturers are facing a tremendous burden to do more with less. If you don't already have a copy of this book, what follows is an excerpt from the introduction chapter of 'The Printed Circuit Assembler’s Guide to... Factory Analytics: Unlocking Efficiency Through Data Insights' to whet your appetite.
Listen Up! The Intricacies of PCB Drilling Detailed in New Podcast Episode
04/25/2024 | I-Connect007In episode 5 of the podcast series, On the Line With: Designing for Reality, Nolan Johnson and Matt Stevenson continue down the manufacturing process, this time focusing on the post-lamination drilling process for PCBs. Matt and Nolan delve into the intricacies of the PCB drilling process, highlighting the importance of hole quality, drill parameters, and design optimization to ensure smooth manufacturing. The conversation covers topics such as drill bit sizes, aspect ratios, vias, challenges in drilling, and ways to enhance efficiency in the drilling department.
Elevating PCB Design Engineering With IPC Programs
04/24/2024 | Cory Blaylock, IPCIn a monumental stride for the electronics manufacturing industry, IPC has successfully championed the recognition of the PCB Design Engineer as an official occupation by the U.S. Department of Labor (DOL). This pivotal achievement not only underscores the critical role of PCB design engineers within the technology landscape, but also marks the beginning of a transformative journey toward nurturing a robust, skilled workforce ready to propel our industry into the future.
Winner of The Science Show Rakett 69 Receives Incap Scholarship
04/24/2024 | IncapThe winner of the Rakett 69 science show, Andri Türkson, who stood out as an electronics enthusiast, received a scholarship from Incap Estonia, along with an internship opportunity in Saaremaa.