After founding a technology company, and developing proprietary hardware and software over several years, the plaintiff was approached by a Fortune 500 conglomerate to negotiate an agreement to license its technology. After signing an exclusive agreement that gave the defendant several months to complete its diligence process, the defendant allegedly extracted an extensive amount of confidential information from the plaintiff under the guise of diligence in order to consummate a transaction—which was never completed. The defendant then allegedly misappropriated the plaintiff's technology for themselves, launching a nearly identical product, infringing on the plaintiff's intellectual property and breaching multiple contractual obligations.
The plaintiff operated a thinly capitalized technology startup with little to no litigation budget. The plaintiff was able to use LexShares $2,250,000 in funding to unlock value of their pre-settled legal claim which was the largest asset on its balance sheet. The liquidity provided by LexShares enabled the plaintiff's company to continue operations during litigation proceedings.