MTN Ghana Rejects Clydestone Mobile Money Claims as Court Dispute Begins
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MTN Ghana Rejects Clydestone Mobile Money Claims as Court Dispute BeginsMTN Ghana has denied allegations that it used intellectual property belonging to Clydestone Ghana without permission or compensation, confirming that it intends to challenge the claims before the High Court in Accra.The legal dispute concerns Clydestone’s alleged contribution to the early development of mobile money services in Ghana. The announcement of the case was followed by a sharp decline in MTN Ghana’s share price.In a statement issued on Friday, MTN Ghana said it had received a writ of summons and a statement of claim connected to Clydestone Ghana’s alleged involvement in the introduction of mobile money services in the country.The telecommunications company rejected the allegations and said it would contest the matter in court. MTN Ghana also noted that the issues raised in the lawsuit date back nearly two decades.Clydestone Ghana commenced legal proceedings on July 28 against MTN Ghana, MTN Group and MobileMoney Fintech at the High Court in Accra.According to Clydestone, intellectual property, confidential business information and operational methods developed during an engagement commissioned in 2007 were later used without its authorisation.The Ghanaian information technology and financial technology company is seeking court declarations, damages and other equitable remedies.Clydestone stated that MTN Ghana approached the company in 2007 to prepare a detailed commercial and operational framework for the establishment of a mobile money business in Ghana.It said the assignment formed part of a wider commercial relationship between the two companies that had existed since 1998.Clydestone further claimed that the work was personally created and presented by its founder and group chief executive officer, Paul Jacquaye.According to the company, the materials delivered to MTN Ghana covered an entire mobile money ecosystem, including a commercial model, operational structure, implementation process and supporting business case.MTN Ghana has not accepted Clydestone’s account of the engagement or the allegations of unauthorised use. The company maintains that the claims will be addressed through the court process.The High Court proceedings are expected to determine whether Clydestone’s intellectual property and confidential commercial materials were used without permission and whether the company is entitled to compensation or other remedies.
MTN Ghana Rejects Clydestone Mobile Money Claims as Court Dispute Begins
MTN Ghana has denied allegations that it used intellectual property belonging to Clydestone Ghana without permission or compensation, confirming that it intends to challenge the claims before the High Court in Accra.
The legal dispute concerns Clydestone’s alleged contribution to the early development of mobile money services in Ghana. The announcement of the case was followed by a sharp decline in MTN Ghana’s share price.
In a statement issued on Friday, MTN Ghana said it had received a writ of summons and a statement of claim connected to Clydestone Ghana’s alleged involvement in the introduction of mobile money services in the country.
The telecommunications company rejected the allegations and said it would contest the matter in court. MTN Ghana also noted that the issues raised in the lawsuit date back nearly two decades.
Clydestone Ghana commenced legal proceedings on July 28 against MTN Ghana, MTN Group and MobileMoney Fintech at the High Court in Accra.
According to Clydestone, intellectual property, confidential business information and operational methods developed during an engagement commissioned in 2007 were later used without its authorisation.
The Ghanaian information technology and financial technology company is seeking court declarations, damages and other equitable remedies.
Clydestone stated that MTN Ghana approached the company in 2007 to prepare a detailed commercial and operational framework for the establishment of a mobile money business in Ghana.
It said the assignment formed part of a wider commercial relationship between the two companies that had existed since 1998.
Clydestone further claimed that the work was personally created and presented by its founder and group chief executive officer, Paul Jacquaye.
According to the company, the materials delivered to MTN Ghana covered an entire mobile money ecosystem, including a commercial model, operational structure, implementation process and supporting business case.
MTN Ghana has not accepted Clydestone’s account of the engagement or the allegations of unauthorised use. The company maintains that the claims will be addressed through the court process.
The High Court proceedings are expected to determine whether Clydestone’s intellectual property and confidential commercial materials were used without permission and whether the company is entitled to compensation or other remedies.
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