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This press release was written by the company which issued it. WARPIG.com and Corinthian Media Services have not verified and do not warrant claims represented therin. Entered into WARPIG PR Wire by: faeriegirl on 07/08/04 

PMI

Smart Parts


 

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PMI & SMART PARTS SETTLE

Companies settle dispute over patent rights



Smart Parts, Inc. (Smart Parts) and Pursuit Marketing, Inc. (PMI)today announced the signing of a Settlement Agreement resolving a dispute with respect to Smart Parts' electronic paintball gun patents. Although the precise terms of the agreement are confidential, PMI has agreed to pay Smart Parts an undisclosed amount of money to forego litigation over PMI's proposed PIMP kits and paintball markers. PMI only acknowledged the validity and enforceability of certain claims of Smart Parts' patents as they are applied to paintball markers that use an electro-pneumatic valve to operate a bolt assembly, and has agreed that, as long as Smart Parts
is the sole and exclusive owner of this technology, it will not engage in future production of markers that use an electro-pneumatic valve to operate a bolt assembly unless it first obtains a valid license from Smart Parts.

Smart Parts owns several issued patents and pending patent applications related to the use of electronics in the control and operation of paintball guns. These include, for instance, U.S. Patent Nos. 6,637,421 B2; 6,474,326 B1; 6,035,843; 5,967,133; and 5,881,707.
 

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