1:27pm Friday 5th September 2008
By Maggie Hartford
High-tech company Oxonica is considering an appeal after the High Court ruled today that it must pay royalties to a rival company set up by an ex-employee.
Deputy Judge Peter Prescott QC ruled that royalties are payable on Envirox, a fuel-saving additive which is used in Stagecoach buses.
A further hearing will decide the royalties payable, the payment of costs and permission to appeal.
Oxonica, an Oxford University spin-off, estimates that £408,000 may be payable, while Neuftec, co-founded by Ronen Hazarika and based in the Dominican Republic, is claiming up to £3m.
Oxonica, a nanotechnology company based at Begbroke Science Park, says it has been advised by its legal advisors that it has good grounds for an appeal, which it is currently considering.
It is one of a stable of companies supported by Richard Farleigh, of TV's Dragon's Den.
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