Creator of TED cFalls in a $10M Lawsuit Over Sale of Spinoff
Richard Saul Wurman, the founder of the TED conference has been caught up in a $10 Million legal dispute on the sale of a TED spinoff.
Wurman founded TED in 1984 with its main focus on technology, entertainment, and design. Later in 1995, with the objective to focus on healthcare and medicine, he created TEDMED. Eventually, he sold off both TED and TEDMED.
According to Wurman, Marc Hodosh who bought TEDMED in 2008, breached the contract and priced it for millions when he later pitched in for reselling in the year 2011. A lawsuit was, therefore, filed in the federal court in Rhode Island.
Both the parties are filing a case against each other for at least $10 million. Hodosh has sued Wurman accusing him of interfering in the sales process.