Sep 21, 2013, 05.44 PM | Source: CNBC-TV18
Infosys received a relief from a Texas court after it refuted Versata's claims over a deal signed between the two entities. However, clarity on four other grounds has not happened yet.
Kritika Saxena (more)
Reporter, CNBC-TV18 |
The case was filed in 2010 when Versata claimed that Infosys had used its technology to provide system management services to Ameriprise in 2008, a financial management company. Ameriprise was not an approved third party.
Essentially, Versata also claims that Infosys employees used Versata's code base at Ameriprise. There was a clear mention in the particular document that the two companies had signed that they will not be allowed to reverse engineer any of the code data.
Both the companies had a deal in 2003, wherein Versata would give Infosys the permission to take its services and use it for approved third party transactions.
Versata claims have been refuted by the Texas Court.
However, four other claims with respect to misappropriation of trade secrets, Texas theft liability act, claims on unfair competition and common law misappropriation have not been cleared as yet.
No official comments from Infosys have been received.
AK Prabhakar of IDBI Capital is of the view that o
ICICI Direct is bullish on Infosys has recommended
Geojit BNP Paribas is bullish on Infosys has recom
That the Indian IT industry is struggling with slo
An accelerating earnings momentum, which could tra