Correct, generally once a patent has expired any company is free to use it. However, there are several caveats to this firstly, given that any company can use it means that there is no point of difference. Secondly, if the I.P was not commercal under the previous owner does that mean someone else can, or will, profit from it. Also given the length of time to expiry more efficient or superior technology may have been developed and is being used. This all means that other companies may not be that excited that the I.P is available.
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