Business COURT ADJOURNS HEARING TILL SEPTEMBER IN COPYRIGHT INFRINGEMENT SUIT AGAINST ECOBANK Published 8 years ago on July 27, 2016 By The Octopus News Admin A Federal High Court sitting in Lagos has adjourned hearing in an N8 billion copyright infringement suit involving ROLLING INNOVATIONS & INVESTMENT LIMITED & ANOR V ECOBANK NIGERIA, MR RICHARD ADIELE AND MR. ADEKAYO BALOGUN till September 21. The claimants filed the suit against the Bank and two of its ex-staff claiming that the Bank infringed on its copyright and seeking for damages in excess of N8billion against the Bank.The Claimants alleged that the bank entered into negotiations with them to adopt their Spend & Save (S & S) Scheme as one of its savings products but that negotiation was not concluded and agreements were not drawn up. The Claimant further claimed that the Bank infringed on its copyright by using all confidential information supplied to it during negotiation without their consent/authority and have been making undue profit from the said confidential information under the name “Save As You Spend (SAYS) Scheme” and marketing same as its version of the Claimants’ Spend & Save (S & S) Scheme. The Claimants are seeking an order of court restraining the Bank from operating/marketing the Save As You Spend (SAYS) Scheme as well as an account for all profits made from the confidential information supplied to the Bank.However, an Ecobank source said the bank is of the view that the Plaintiffs’ claim for copyright infringement was absurd and could not stand in law. The source noted that though, it is not in dispute that a proposal was made to the Bank and that there are also similarities in name and function of the two literary works in issue, it is however a settled principle of law that an idea does not enjoy copyright protection.”The Plaintiffs’ literary work in issue is not novel. The proposal was received over 6 years ago and similar products have since been launched by other banks”, he stated.The case has been adjourned to 21st of September, 2016, for mention. Post Views: 828 Related Topics:Federal High Court sitting in LagosMR RICHARD ADIELE AND MR. ADEKAYO BALOGUNROLLING INNOVATIONS & INVESTMENT LIMITED & ANOR V ECOBANK NIGERIAslideshow Up Next DIAMOND BANK RECORDS STABLE GROWTH IN H1 Don't Miss Afreximbank Supports Heritage Bank Growth With $150million You may like Why I Converted From Islam To Christianity-Omotola Jalade-Ekeinde Remi Tinubu’s Dead Dream King Of International Collaboration: Davido Hook Up With Ludacris NNPC Boss Calls For More Collaboration Between NNPC, National Assembly Dr. Sid Signs New Mavin Records Deal Stop Fighting the Wind, Amaechi Will Be Renominated, Eze Tells Wike, Abe Click to comment Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ Polaris Bank AD Your browser does not support the video. AdFacebook Trending Society5 years ago How Socialite, Drug Peddler Toyin Igbira Died Music4 years ago Police Arrest Salawa Abeni’s Blackmailer Opinion5 years ago Why I said Anyone Opposed To Church Opening Will Die-Oyedepo News5 years ago See Open Letter Written By Pastor To Adeboye, Kumuyi Others News4 years ago Nigerian Army Arrest Soldier For Attack On Chief Of Army Staff Society5 years ago Happy Times Return For Sanusi Lamido Sanusi Music5 years ago Olori Ajoke Places Curse On Esabod Live12 months ago Bayelsa Election Live: Voting Begins In Earnest