Reading Associates, Ltd. v. Reading Associates of Georgia, Inc.

Undercofler, Presiding Justice.

This litigation involves a rapid reading program system termed "optimation.” The plaintiff, Reading Associates of Georgia, Inc., acquired certain rights to market "optimation” in Georgia by contract with Reading Associates, Ltd., a limited partnership, and The Reading Foundation of California, a nonresident Illinois nonprofit corporation. Among other agreements the plaintiff in accordance with the contract transferred one half of its authorized capital stock (10,000 shares) to Reading Associates, Ltd. Thereafter the plaintiff brought the instant suit to rescind…