Who's in charge?

I am a big believer in the BLG story. I hold a sizeable number of shares. Don't get me wrong on this post as a down ramper. I am just calling out Management and Directors on what I think is so far a major stuff up on the Lumileds collaboration.

Lumileds Patent and then BLG's statement in the response to the Trading Halt on the Confidentiality Agreement. At first I was excited that Lumileds had confirmed theRPCVD technology does work and may have some value to their product. But then the Confidentiality Agreement trading halt response - it all at first seemed laughable. It would be if it was not so serious.

It beggars belief that there is a collaboration agreement between companies and something so important like a section controlling or at least having some form of due process on Patents was not included. There may be, but Lumileds certainly has no regard to the relationship or they would have at least fired out a notice after it was lodged..

Has BLG dropped the ball on control of the technology. I know there are Patents on RPCVD and BLG has invested a lot into the process of wafer manufacturing for LED's. I can't understand how Lumileds could lodge a Patent from this collaboration without BLG knowing anything about it. Should there have been some form of Joint ownership of any "inventions" from the collaboration? Has BLG just lost bargaining power? I know Lumileds won't be able to produce a single product from their "invention" without using the Patented RPCVD process. But will that matter to Lumileds if BLG can't survive without Lumileds. Lumileds can just sit out the next two years to see if BLG can make it on its own. If it can't, Lumileds picks up cheap technology from a position of power.

BLG Management and Directors have to act on this matter with some urgency and authority. Otherwise there seems to be an element of negligence on their behalf.

I think there is a lot at stake and Lumileds have outwitted BLG and we as shareholders may pay the price. Lets hope I have it all wrong. Hope not.

Anyone have another point of view?

Changed to Hold sentiment as I think this needs more "clarification" from BLG Directors.

If they do read Hotcopper. This can be read as a opportunity to redeem, otherwise, lets see what transpires before any repercussions come from this perceived stuff up.