Hank Asher $1B Countersuit Against Public Records Giant LexisNexis Fair Play

Does anyone understand why the Dutch-Anglo conglomerate Reed Elsevier through its US arm LexisNexis is suing Hank Asher?

They bought both of his previous companies. They turned a duopoly of his inventions into a monopoly. They don’t have any real competition to speak of. What more do they want?

“Reed Elsevier, … parent of LexisNexis and Seisint, on Thursday filed a complaint in Palm Beach County Circuit Court, alleging that Asher is violating his non-compete agreement by starting a new company, TLFO, in Boca Raton.” ^[1]

Ah. The Non-Compete Agreement; it expires soon.

It’s difficult to maintain a monopoly and the windfall profits that come from grossly inflated monopoly pricing when your “main viable competitor” is about to be set free; unbound, so to speak.

They don’t want him back.

But he IS back, renting, renovating and hiring at the Boca Raton Corporate Park and Campus in Palm Beach County. ^{[2, 5]}

And he’s countersuing for $1 Billion in damages. ^{[3, 4]}
Can he get it? Not the way I figure it. He’ll get $2B!

In 5 years at DBT (his first company), Hank brought home $150 million.
In 4 years at Seisint (his second successful business), he brought home $260 million.

Dividing those numbers by the years at each company, Hank Asher made $30 million per year at DBT and $65 million per year at Seisint. His personal yearly earnings doubled with each company.

Given the relentless thirst for data on this planet, I figure he’s a 150 million dollar-a-year man now.

Multiply $150 million per year times the 5 years he’s been bound by that Non-Compete and I’d say he’s realized a LOSS of 750 Million dollars – not including health benefits!

This plus punies and I think he’s got a good case for 2 Billion Dollars in Damages.

Add to that THOUSANDS of new Jobs for Palm Beach County paid for in English Pounds and Dutch Euros.

Welcome back Hank!

REFERENCES
[1] Frogameni, Bill. “Hank Asher Sued by Former Company.” South Florida Business Journal. April 03 2009. http://southflorida.bizjournals.com/southflorida/stories/2009/03/30/daily75.html

[2] Frogameni, Bill. “Asher Responds to Non-Compete Suit: ‘What’s with these people?’.” South Florida Business Journal. April 10 2009.

http://southflorida.bizjournals.com/southflorida/stories/2009/04/13/story6.html

[3] Ostrowski, Jeff. “Asher: Reed Elsevier lawsuit alleging breach of noncompete pact ‘a sham’.” Palm Beach Post April 29 2009.

http://www.palmbeachpost.com/business/content/business/epaper/2009/04/30/a5b_officesale_0501.html?cxntlid=inform_sr

[4] King, Dale. “Boca Raton: Asher Files $1B countersuit against his former.” May 08, 2009. Boca News

http://www.bocanews.com/boca-raton/3917-boca-raton-asher-files-1b-countersuit-against-his-former.html

[5] Business Section. “Data Guru Sued by Reed Elsevier over Non-Compete Pact.” The Miami Herald April 07, 2009.

http://www.miamiherald.com/103/story/987993.html