Euronext Liffe has been taken to the UK's Court of Appeal by former employee Pavel Pinkava over the rightful ownership of trading "inventions" conceived by Pinkava during his employment at the exchange.
Pinkava's claim is that he has legal rights to systems that were developed to facilitate the electronic trading of OTC instruments including credit default swaps, credit interest swaps, interest rate swaps and overnight index swaps.
The case tests a number of points of employment and contract law including the designation of inventions made during, but not as a causal result of employment. In Pinkava's...