The opinion of the court was delivered by: WHAM
Having studied the pleadings and evidence in the above case together with the briefs and arguments of counsel the Court makes the following Findings of Fact and Conclusions of Law.
1. Plaintiff is a New Jersey corporation having its principal office at 142 Broad Street, Elizabeth, New Jersey.
2. Defendant, formerly the General Printing Ink Corporation, is a Delaware corporation duly authorized to do business in the State of Pennsylvania, having one of its places of business at 29 North Sixth Street, Philadelphia, Pennsylvania.
3. The amount in controversy exceeds, exclusive of interest and costs, the sum of $ 3,000.
4. On or about October 16, 1933, General Printing Ink Corporation, defendant's predecessor, entered into an Agreement with Harry C. Jones as of September 1, 1933, which Agreement was thereafter amended by letters dated November 27, 1933, September 4, 1935, September 30, 1935, March 23, 1938 and March 28, 1942, which Agreement as amended (hereinafter sometimes called Agreement) which is set forth in full in Exhibits A to F attached to plaintiff's original complaint, contained the understandings between the parties hereto and/or their predecessors in interest with respect to certain patents and inventions of the said Harry C. Jones.
5. On or about October 2, 1938, the said Harry C. Jones died a resident of Nassau County, New York, leaving a last will and testament under which his entire estate was left to his widow, Mabel Dean Jones, including, inter alia, his interest in the aforesaid Agreement.
6. On or about April 6, 1948, the said Mabel Dean Jones assigned and transferred all of her interest in and under said Agreement, and the patents involved therein, to the Union County Trust Company, plaintiff herein, as trustee, to collect the sums due under said Agreement and distribute the same as provided therein.
7. The original Agreement above referred to prior to amendment reads in part as follows:
'* * * 1. The Licensor agrees to grant and he hereby does grant unto the Licensee, the sole and exclusive license, right and privilege to make, use, and/or sell anywhere in the entire world throughout the life of this agreement, all machinery, equipment, devices and/or any other property embodying the Inventions of or covered by any and all of the following described patents and patent applications:
'U.S. Application Serial No. 356,326, filed April 19, 1929, Apparatus for securing registration position of an article.
'U.S. Application Serial No. 458,789, filed May 31, 1930, Photographic Machines.
'3. The Licensor agrees to grant and he hereby does grant unto the Licensee the option of acquiring under the terms, covenants and conditions of this agreement the sole and exclusive license, right and privilege to make, use and/or sell anywhere in the entire would throughout the life of this agreement all machinery, equipment, devices and/or any other property embodying the Inventions of or covered by any or all Patent Applications relating to Photo-Composing Machines and Apparatus which may hereafter be filed anywhere in the entire world by the Licensor or on his behalf. Such option may be exercised from time to time and the manner of exercise thereof by the Licensee shall be by mailing to the Licensor notice in writing of its election to exercise the same within four (4) months after the disclosure of such application to the Licensee by the Licensor.
'4. The Licensor's compensation for the licenses and options referred to in paragraphs 1 and 3 ...