Audit clauses and contractual construction: the (Paddington) bare facts
Paddington Bear, the friendly spectacled bear from “darkest Peru”, has a habit of getting into trouble. However, it was Paddington and Company Limited (the company that owned the intellectual property rights in Paddington Bear) (Paddington) and Pixdene Limited (a company which had a right to a share of the net merchandising income from the worldwide exploitation of the Paddington Bear merchandising rights) (Pixdene) that got into a sticky situation in relation to an audit clause in their contract.
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Date published: 08 November 2023