Verisign. Verisign represents and warrants that: (1) it is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware, (2) it has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement, (3) the execution, performance and delivery of this Agreement has been duly authorized by Verisign, and (4) no further approval, authorization or consent of any governmental or regulatory authority is required to be obtained or made by Verisign in order for it to enter into and perform its obligations under this Agreement.
Verisign. VeriSign owns all rights in and to the VeriSign Marks and all Intellectual Property Rights therein and thereto. All uses of the same shall inure to the sole benefit of and be on behalf of VeriSign. Company acknowledges that the VeriSign Marks and Intellectual Property, and the goodwill associated therewith, are valuable properties belonging to VeriSign and that all rights thereto are and shall remain the sole and exclusive property of VeriSign. Company shall not now or in the future contest the validity of the VeriSign Marks. Company agrees that all customers that purchase VeriSign Products and Services are VeriSign customers and that VeriSign shall be the owner of all information or data collected by VeriSign in providing any product or service to them. Nothing herein shall confer upon Company any right of ownership in any of VeriSign’s Marks or Intellectual Property.
Verisign. INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued) DECEMBER 31, 2000, 1999 AND 1998 Note 4. Balance Sheet Detail December 31, ------------------- 2000 1999 ----------- ------- (In thousands) Property and equipment, net Computer equipment and purchased software............... $ 121,437 $15,231 Office equipment, furniture and fixtures................ 4,803 2,438 Leasehold improvements.................................. 14,147 ----------- 140,387 3,996 ------- 21,665 Less accumulated depreciation and amortization.......... 34,785 ----------- $ 105,602 =========== 11,471 ------- $10,194 ======= Goodwill and other intangible assets, net ISP hosting relationships............................... $ 11,389 $ -- Customer relationships.................................. 18,217 -- Technology in place..................................... 38,533 -- Non-compete agreement................................... 939 -- Trade name.............................................. 74,214 -- Workforce in place...................................... 19,395 -- Contracts with ICANN and customer lists................. 810,930 -- Goodwill................................................ 19,868,903 ----------- 20,842,520 -- ------- -- Less accumulated amortization........................... 3,185,879 ----------- $17,656,641 =========== -- ------- $ -- ======= Accounts payable and accrued liabilities Accounts payable........................................ $ 39,330 $ 4,665 Employee compensation................................... 16,509 3,878 Professional fees....................................... 39,228 284 Advertising fees........................................ 32,681 -- Facilities related...................................... 12,709 -- Tax accrual............................................. 32,743 -- Other................................................... 20,752 2,075 ----------- ------- $ 193,952 $10,902 =========== ======= 76 VERISIGN, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued) DECEMBER 31, 2000, 1999 AND 1998 Note 5. Stockholders' Equity Stock Splits In March 1999, the Board of Directors (the "Board") declared a two-for-one stock split for stockholders of record on May 14, 1999. In November 1999, the Board declared an additional two-for-one stock split for stockholders of record on November 22, 1999. All share and per share information has been restated to reflect the effect of the stock splits. Preferred Stock VeriSign is aut...
