# Satyam sued for US $1billion for Fraud, IP infringement



## coolpcguy (May 19, 2008)

Just caught up this news:

Satyam gets sued for $1 billion for fraud and intellectual property infringement, by UPAID SYSTEMS, American based mobile and online payment specialist, regarding "development of  the idea of converting any phone into a de facto pay phone through the use of a pre paid account associated with a caller identification number. To develop this idea considerable portions of core-project is outsourced to Satyam"

Detailed analysis:


*jumpup.wordpress.com/2008/05/18/satyam-softwares-sued/

Upaid system's Press release:
*www.upaid.net/press_release_det.asp?art_id=5565&sec_id=2625

Court proceedings:
*www.bailii.org/ew/cases/EWCA/Civ/2008/487.html


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## unni (May 19, 2008)

Satyam has clarified about this in their press release


> *Satyam Clarifies its case with UPaid*
> 
> HYDERABAD, India, May 14, 2008: Satyam Computer Services Ltd. (NYSE:SAY), a leading global business and information technology services provider, today announced that in response to the news item regarding the legal case against UPaid Systems Ltd, a British Virgin Islands Company engaged in mobile payments services,  it would like to clarify the following:
> 
> ...


Also this


> *Satyam evam Upaid: Who paid?*
> 
> I came across this interesting piece in IPKat today, relating to IT giant Satyam and a dispute in the Commercial Court for England and Wales [Satyam Computer Services Ltd v Upaid Systems Ltd [2008] EWHC 31 (Comm)].
> 
> ...


Waiting to see what will happen


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## dheeraj_kumar (May 19, 2008)

I say this case ends in favour of UPaid and Satyam shuts down. Satyam performs Asatyam. What to do?


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## The Conqueror (May 19, 2008)

OMG! Thats huge amount


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## dheeraj_kumar (May 19, 2008)

I read the court case summary fully, I couldnt understand most of it, but I'm familiar with it since I read Perry Mason when I was younger.  Satyam's mistake was it forged the siggys and never told its employees it was transferring the IP rights to UPaid. The employees didnt know abt it, so they sold their invention happily to Qualcomm and Verizon.


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## Pathik (May 19, 2008)

> The purported damages asked is around ahem ahem, USD 1 billion, and yes, Satyam Software Services (from now onwards ‘Satyam’) is a $2.5 billion company.



Hard times ahead for Satyam!


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## coolpcguy (May 19, 2008)

dheeraj_kumar said:


> Satyam's mistake was it forged the siggys and never told its employees it was transferring the IP rights to UPaid. The employees didnt know abt it, so they sold their invention happily to Qualcomm and Verizon.


 How could the top brass do something like that.


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## NucleusKore (May 19, 2008)

dheeraj_kumar said:


> I read the court case summary fully, I couldnt understand most of it, but I'm familiar with it since I read Perry Mason when I was younger.  Satyam's mistake was it forged the siggys and never told its employees it was transferring the IP rights to UPaid. The employees didnt know abt it, so they sold their invention happily to Qualcomm and Verizon.



Happens in many private companies


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## x3060 (May 20, 2008)

so much for the company i guess . . they are gonna loose every money they had made all these years


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## it_waaznt_me (May 20, 2008)

Time to short Satyam tomorrow ..


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## Pathik (May 20, 2008)

The big players are much faster. I bet it will open low.


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## coolpcguy (May 20, 2008)

Suppose there will be some discrete out of court settlement


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## praka123 (May 20, 2008)

so...bad!


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## dheeraj_kumar (May 20, 2008)

coolpcguy said:


> Suppose there will be some discrete out of court settlement



...and satyam will be out of business too.. not that they cant do anything to prevent it.. it was their mistake in the first place.


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