The opinions expressed in this editorial are those of the author and do not necessarily reflect those of Decima Reports. Unique Broadband Systems Inc.’s dispute with Microcell Telecommunications Inc. over rights to MCS spectrum could be coming to a head in the near future (see lead article). While UBS executives are mum on possible action against Microcell, it seems likely UBS won’t let the problem continue for much longer and a legal challenge could be in the offing.  Uncertainty over the "ownership" of the spectrum in question could have a disastrous impact on both companies’ business plans. Spectrum is the lifeblood of the two companies’ operations, and a lack of it would severely limit service offerings. UBS, which already has spectrum through its 51% ownership stake in Look Communications Inc., needs access to additional spectrum to follow through on its business plan. (That plan has yet to be clearly articulated, but it is safe to assume that it includes high-speed wireless Internet access and wireless cable TV services.) Losing the rights to use the MCS spectrum, combined with UBS’ decision to withdraw from the upcoming spectrum auction, would certainly jeopardize this and any other plans the company has for the disputed spectrum. Similarly, Microcell wouldn’t want this to be a long drawn out affair since it committed 60 MHz of Inukshuk Internet Inc.’s spectrum to a joint venture with Allstream Inc. and NR Communications. Not only would Microcell’s plans need to be altered if it lost rights to the spectrum, those of Allstream and NR would be equally affected. The classic "he said, she said" dispute has all the right ingredients of a court battle. UBS says that it has an agreement André Tremblay signed letting it exclusively use 36 MHz of MCS spectrum. That same agreement also had a right of first refusal provision for the remaining 60 MHz. For its part, Microcell disputes UBS’ claims of an agreement between the two companies, telling Report on Wireless outright no agreement exists. It’s still early to predict with any certainty whether the two companies will head to court or if an out-of-court settlement can be reached. But one thing is for certain, the boards and executive management teams of the losing company will have to answer to shareholders.