Schweizer Electronic Inks Patent Transfer Agreement with China Subsidiary


Reading time ( words)

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.

Share




Suggested Items

Electronica: Picking Up Where We Left Off

11/18/2022 | Nolan Johnson, I-Connect007
The productronica/electronica pairing of trade shows is an experience unlike any other; anyone who has ever attended is likely to back me up on that claim. This year’s iteration of electronica, taking place in Messe Munich, Nov. 15-18, is no exception. I-Connect007 was onsite to gather the news and share our impressions of the show. First, the show’s attendance was rumored to be in the 60,000+ range. This number sure seemed to be reasonable given the crowd sizes we witnessed.

Pricing Strategies With Michael Carano

09/13/2022 | I-Connect007 Editorial Team
We recently spoke with longtime I-Connect007 columnist Michael Carano, vice president of quality at Averatek, about pricing strategies for PCB fabricators. We’re seeing some movement in this segment as fabricators, already dealing with some of the tightest profit margins around, find themselves having to either raise their prices or trying to massage more revenue out of their already streamlined processes. We asked Michael for some pricing strategies for fabricators, and he shared a range of options for today’s manufacturers who aren’t afraid to rethink their processes and try new ideas. And, as he says, people will still pay good money for a quality, reliable PCB.

I-Connect007 Editor’s Choice: Five Must-Reads for the Week

08/26/2022 | Andy Shaughnessy, Design007 Magazine
This week we have quite a variety of articles for you. There has been so much electronics industry news coming out of Washington, D.C., that it can be hard to keep track of what’s going on. So, Editor Michelle Te compiled a handy-dandy reference guide to recent legislation news, including our exclusive coverage. We need to keep an eye on these senators and representatives. They’ve been talking about the importance of our industry for the past year, but this is an election year, after all. They’ve been known to say one thing and do another.



Copyright © 2022 I-Connect007 | IPC Publishing Group Inc. All rights reserved.