San Antonio's Economic Development Department said an ongoing intellectual property dispute does 'not impact our agreement with DeLorean.' SanAntonio SATX SanAntonioTX EconomicDevelopment DeLorean startups intellectualproperty
Experts maintain that signs of impending legal trouble should have raised a red flag as local officials weighed whether to offer incentives to the DeLorean Motors Reimagined.
Just the same, the signs of impending legal trouble were there, said Michael Connelly, a Washington, D.C.-based attorney with more than 25 years of experience litigating intellectual property disputes. He and other experts maintain that those issues should have raised a red flag as local officials weighed whether to offer incentives to the company.
Connelly pointed out that Lordstown Motors, another EV startup helmed by former Karma employees, also faced a lawsuit from Karma alleging intellectual property theft.last year reported that Lordstown is under U.S. Justice Department investigation, and the company also is the subject of a Securities and Exchange Commission inquiry based on vehicle pre-orders. The company has said it's cooperating with regulators on both.
Soon after, city council unanimously approved up to $562,500 in grants for DeLorean Motors Reimagined to lure the company to locate its headquarters at Port San Antonio and create 450 jobs. The question of who has the right to use the DeLorean trademark hinges on a 2014 legal settlement in which Wynne's company admitted that DMC Texas never acquired the licensing rights to the DeLorean name.
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