Wyman

This is an appeal from a decree dismissing a complaint in equity for infringement of letters patent. The facts as set forth in the complaint are substantially as follows. On July 15, 1920, one Olson, the patentee of a process for making cement and cement products, entered into an agreement with the appellants, in which it was mutually agreed that the parties thereto would, within six months, form a corporation, under the laws of the state of California, for the purpose of manufacturing and marketing cement under the patented process and any improvements thereon, and for the purpose of granting rights thereunder; that the name of the corporation, the amount of capital stock, its par value, the names of the officers and their salaries would be later agreed upon between the parties; that 50 per cent, of the stock of the corporation would be issued to Olson and 25 per cent, to each of the appellants; that the shares of stock would not be sold unless subsequently agreed to in writing by the parties, and subject to the requirements of the commissioner of corporations of the state of California ; that the parties to the contract would act collectively as trustees of the corporation to be…