http://www.leagle.com/decision/196448923bstcm466_1419/browsedecisions
this is a decision in a tax case against Norman Pickering. Relevant to the case were the "consulting
fees" paid to Pickering in order for him to not compete after he left the company he founded,
control of which was then taken over by Walter Stanton. In the 1960's, $50,000 was big money to buy
five years of silence. Note that Pickering was negotiating to go work for Electrovoice. Under the
separation agreement he signed, he lost rights to his patents and lost control of the company that
put out cartridges bearing his name well into the 1970's.
-- Tom Fine
|