Pacific, Maverick And Trek Settle Patent Lawsuits
JULY 02, 2004 -- MADISON, WI (BRAIN)--Maverick American, Pacific Cycle and Trek Bicycle amicably resolved their lawsuits concerning claims of patent infringement.
In the lawsuits, Pacific alleged that Maverick's ML7 and Trek's Klein Palomino infringe its patent, "Bicycle with Crank Assembly Suspension System." In turn, Trek claimed that Pacific's I-Drive bicycles infringe its patent, "Suspension System for a Bicycle Having a Y Shaped Frame."
Under the settlement, Pacific licensed the use of its patent to Maverick for use on its ML7 frame and to Trek for use on Klein's Palomino. Trek also agreed to license its Y-shaped frame patent to Pacific.
All parties stated, in a press release, that they agreed to provide no further public comment. The royalty rate and other terms of the licenses are confidential, the press release said.
Awww... group hugs all-round....
JULY 02, 2004 -- MADISON, WI (BRAIN)--Maverick American, Pacific Cycle and Trek Bicycle amicably resolved their lawsuits concerning claims of patent infringement.
In the lawsuits, Pacific alleged that Maverick's ML7 and Trek's Klein Palomino infringe its patent, "Bicycle with Crank Assembly Suspension System." In turn, Trek claimed that Pacific's I-Drive bicycles infringe its patent, "Suspension System for a Bicycle Having a Y Shaped Frame."
Under the settlement, Pacific licensed the use of its patent to Maverick for use on its ML7 frame and to Trek for use on Klein's Palomino. Trek also agreed to license its Y-shaped frame patent to Pacific.
All parties stated, in a press release, that they agreed to provide no further public comment. The royalty rate and other terms of the licenses are confidential, the press release said.
Awww... group hugs all-round....
