02-27-2013 09:01 PM - edited 02-27-2013 10:17 PM
Well seldom do the little guys win. Well they did in Brazil. The farmers contended that the RR1 Patent expired in 2010 not 2014 as alleged by Monsanto. The Brazilian court agreed with them. Monsanto could be on the hook for $2,000,000,000 according to other articles.
Monsanto before the verdict agree to waive two years of fees and pay them back. I think that is a pretty strong admission that they knew the 2014 patent expiration date was not defendable.
If the Brazilian court is right and Monsanto's appeal is not upheld, might be time for American Farmers to view that case to see if they have been over charged for the Tech fee since 2010. it kinda looks like Monsanto may not own the courts in Brazil like they do here in the U.S.
Monsanto has already stated RR1 traits in the US expire in 2014, and will not litigate farmers holding back seed.
I mean WTF . . . If a patent expires in 17 or 20 years they have no standing to even collect the fee after the patent expires along with licenses with seed companies which terminate at the patent expiration date.
But what are the consequences here in the US if 2010 is the real patent expiration date? Kinda looks to me if this is true you have a claim against the seed company that collected that fee. This ruling deserves to be clebrated.
LMAO! Enjoy, John
Kinda looks like they have already started to celbrate in Brazil . . . the Rigga Ding Dong Song. LMAO!
Brazilian growers seek $607 million from Monsanto
A group of Brazilian farmers plans to sue Monsanto Co. over royalty payments, in the latest iteration of a patent dispute.
The head of the soybean growers association, known as Aprosoja, said Monsanto charged farmers two years after a patent expired. “We want Monsanto to give back to producers 1.2 billion reais ($606.7 million) of royalties charged incorrectly,” said Glauber Silveira,Bloomberg reports.
Monsanto officials have maintained that the company’s patent expires in 2014. Some farmers have argued it expired in 2010.
Last week, a judge on Brazil’s Superior Court ruled against Monsanto. Monsanto has filed an appeal to have the Superior Court’s full panel of judges hear the case. The company also has filed an appeal before Brazil’s Supreme Court.
On Feb. 26, Monsanto also said it would defer collecting royalties on its Roundup Ready soybean seeds in Brazil until the courts resolve the dispute.
Previously, Monsanto officials said they would waive two years of fees on Roundup Ready soybeans for farmers who forgo legal claims in a patent dispute.
Creve Coeur-based Monsanto, led by Chairman and CEO Hugh Grant, has $13.5 billion in revenue.
Monsanto reported first-quarter net income of $349 million, up 160 percent, as sales rose 20.5 percent to $2.9 billion. It raised its full-year ongoing earnings-per-share guidance to $4.30 to $4.40 a share. But the guidance excluded income from Brazil beans.
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