This judgment will have significant implications for breach of confidence and intellectual property cases. In our opinion, it will also have a positive impact on that assignment of claims outside of insolvency related disputes.
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Success for entrepreneur against VC Fund in the High Court in a claim brokered by Factor Risk Management
Factor Risk Management brokered a funding and insurance solution with market leading funder Henderson & Jones as part of their successful High Court dispute against venture capital firm Hambro Perks over a claim for breach of confidence.
Henderson & Jones took an assignment of the claim from Tony Gifford, a tech entrepreneur who claimed that Hambro Perks and one of its founders stole confidential information for a care industry software program, using this information to develop its own software with “materially identical” features.
Tony Gifford took the decision to assign the clam to Henderson & Jones as an alternative to traditional litigation funding. As a result he was able to secure access to justice at no cost or risk to himself personally.
This week it was ruled that that Hambro Perks must pay over £2m in damages to Henderson & Jones, with “a very significant proportion of the sums recovered” going to Gifford.
The case was reported in The Times, here.
This judgment will have significant implications for breach of confidence and intellectual property cases. In our opinion, it will also have a positive impact on that assignment of claims outside of insolvency related disputes.