Pruvit is suing ForeverGreen and Axcess Global Sciences, claiming they got played in what amounts to a high-stakes tech licensing bidding war gone wrong.
The lawsuit, filed August 24th, centers on exclusive rights to ketone technology patented by the University of South Florida. Axcess Global Sciences holds the exclusive license and profits by sublicensing the technology to others. That's where things fell apart.
Pruvit says it was the first company to strike a binding deal with Axcess. The company built its entire MLM business around that agreement, only to watch Axcess allegedly shop the same technology to a competitor and walk away from the original contract.
According to Pruvit, Axcess rejected many licensing offers before settling on two potential buyers: Pruvit and ForeverGreen. But instead of honoring its first deal, Axcess allegedly decided ForeverGreen represented a more lucrative opportunity. So Axcess and ForeverGreen allegedly joined forces to lock Pruvit out of the market and damage its reputation with consumers.
The contract promised Pruvit a single-serve powder formula using the licensed technology within five days of signing. Pruvit never received it. Instead, Axcess terminated the agreement and licensed the same technology to ForeverGreen for use in the same territories where Pruvit operated.
Pruvit estimates the damage at more than $3 million.
The fraud accusations get more specific. Pruvit claims Axcess agent Rob Rogers told Pruvit's Brian Underwood in a Dallas meeting that all negotiations with ForeverGreen had stopped and that Axcess had authority to license the products. That was a lie, Pruvit says.
In emails, Axcess employee Gary Millet also made false claims to Underwood and others about what the licensed patents actually covered. Millet allegedly misrepresented that the patents included rights to market the ketone products as aids for weight loss. Axcess also promised Pruvit it had the right to license the USF technology and that the technology mattered to the general public.
What Pruvit got instead was a notice of termination and a company entangled in what it calls subterfuge between itself and ForeverGreen, all while the other two companies allegedly locked arms against it.
🤖 Quick Answer
What is the core dispute in Pruvit's lawsuit against ForeverGreen and Axcess Global Sciences?Pruvit alleges breach of contract and fraud regarding exclusive licensing rights to ketone technology patented by the University of South Florida. Pruvit claims it secured a binding agreement with Axcess Global Sciences, but Axcess subsequently violated the contract by sublicensing the same technology to competitor ForeverGreen.
Why did Pruvit's business strategy fail according to the lawsuit?
Pruvit constructed its entire MLM business model around an exclusive technology licensing agreement with Axcess Global Sciences. The company's failure resulted from Axcess allegedly breaching the exclusive arrangement by offering identical ketone technology rights to ForeverGreen, a competing firm.
What role does the University of South Florida play in this dispute?
The University of South Florida owns the patent for the ketone technology
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