"The door is blocked"
In 2015, the new three board was listed, the prospectus was released in 2016, and the successful meeting in 2017... The capital market of the listed company A was originally smooth, and it was expected that at the critical moment of IPO, Company A was suddenly competing. The lawsuit filed by rival B Company on the grounds of patent infringement, and the screaming IPO road suddenly rose.
"We just want to block the IPO of Company A." Wang Gang (a pseudonym), Chairman of Company B, did not evade his original intention. The purpose was almost reached before: Company A took the initiative to submit the initial listing suspension review to the CSRC in the middle of this year. Application. At the recent meeting, the patent infringement matters of Company A were once again the focus of the members of the Audit Committee.
The IPO blocking war initiated by Company B against Company A in the name of patent infringement is not a case.
"The IPO of the listed company has always been uneven, and in the many black swan incidents encountered, the patent infringement lawsuit is definitely the darkest. Especially for many technology companies, the patent attribution is directly related to If the patent infringement lawsuit is not handled well, the small one will affect the IPO process, and the big one will block the IPO road. “The head of a large investment bank IPO project in Beijing told the China Securities Journal.
The game between the two sides is heating up
Why does the proposed company become a "Tang Yu meat" in patent infringement lawsuit?
"With A company, we have not been suing for so many years, because the scale is not large, even if we win the lawsuit, we can not get satisfactory compensation." Wang Gang told the China Securities Journal reporter.
In fact, many patent infringement lawsuits against listed companies are only a small part of the reason, and more are to crack down on competitors.
It is understood that before 2015, Company A and Company B were competitors in the same industry, but the headquarters and the market were separated from each other in the north and south. It was not until Company A listed the new three boards in 2015 that Company B discovered the fact that Company A had been “sudden and rich†for many years – the scale was already bigger than itself.
If competitors precede their IPOs, they will bring more competitive pressure. Wang Gang also said very straightforwardly. "The opponent can make a little money, I can tolerate it; if it continues to expand, the acquisition of upstream and downstream enterprises, I can not tolerate it."
Market participants said that if the two companies have fierce competition, once the party has an IPO, it will have more capital to increase its strength and expand its scale. There may be other mergers and acquisitions after the listing, which will bring competitive pressure to the related industry sectors of the other side.
Some investment bankers bluntly said that in the process of listing two companies in the same industry, the IPO blocking war launched in the name of patent infringement is very easy to stage.
"defensive counterattack" combination punch
"The patent infringement lawsuit initiated by the listed company on the IPO road encounters competitors and other stakeholders has been regularized. We have encountered more than one. The legal level of response measures summed up two aspects: good defense, active response Active counterattacks, such as invalidation of the patents filed with the Patent Reexamination Board of the State Intellectual Property Office. The person in charge of the above investment bank told the China Securities Journal.
In response to the blockade of Company B, Company A adopted the second strategy mentioned above, and filed an invalid application for the patent litigation patent of B to the Patent Reexamination Board of the State Intellectual Property Office. "They found a 'straw man' and said it was my friend. I worked in my company and said that the patent is his." Wang Gang said, "The best counterattack is the best defense." The counterattack strategy is applied properly. Sometimes it works quite well.
In addition, there is a class of "patent rogues" that make many listed companies feel a headache. "The so-called 'patent rogue' is to issue a batch of patents, initiate a surprise attack before the meeting of the proposed company, and file a patent infringement lawsuit." Beijing Yuan Zhou Law Intellectual Property Agency Co., Ltd. lawyer Cong Sen told the China Securities Journal reporter that this It is required to conduct a comprehensive due diligence investigation on patent matters in advance to prevent listed companies from taking precautions. (Reporter Ren Mingjie)
Brushless Permanent Magnet Motor
Brushless permanent magnet motors with low inertia rotors are used in high-performance servo applications such as machine tools or pick and place applications where fast, precise movements are required, and motors with high inertia rotors (and high pole-numbers) suit low-speed applications such as gearless lift systems.
The performance characteristics of these drives are summarized below:
They have excellent dynamic performance at speeds down to standstill when position feedback is used.
For precision positioning the position feedback must define the absolute position uniquely within an electrical revolution of the motor. This can be provided with a position sensor or alternatively a sensorless scheme can be used. The performance of a sensorless scheme will be lower than when a position sensor is used.
Field weakening of permanent magnet motors is possible to extend their speed range, but this requires additional motor current, and so the motor becomes less efficient in the field weakening range. This form of control also increases the rotor losses and raises the temperature of the magnet material, thereby increasing the risk of demagnetization. Care is also needed in such applications to avoid overvoltage at the motor and drive terminals in the event of a loss of control: at high speeds, the open-circuit voltage will exceed the rated value.
Brushless permanent magnet motors exhibit an effect called cogging that results in torque ripple. It is caused by magnetic reluctance forces acting mainly in the teeth of the stator, and can be minimized by good motor design, but can still be a problem in sensitive applications.
Brushless permanent magnet motors can be very efficient as the rotor losses are very small.
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