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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 04/03/06
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Smart Parts, WDP, and DYE
Smart Parts, WDP, and Dye Resolve Litigation, License Agreements Part of Settlement
April 1, 2006
Smart Parts, Inc., WDP, Ltd., and Dye Precision, Inc. are pleased to announce the settlement of litigation pending between the companies and the entry into patent license agreements giving WDP and Dye a worldwide, non-exclusive license to make, sell, offer for sale, and distribute products covered by Smart Parts’ electronic paintball gun patents; giving Smart Parts and Dye a worldwide, non-exclusive license to make, sell, offer for sale, and distribute products covered by a WDP’s affiliate’s LCD and Data Link and other related electronic paintball marker patents; and giving Smart Parts a license under Dye’s patent related to spool valve paintball gun designs.
Smart Parts owns several U.S. and international 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. 5,881,707; 5,967,133; 6,035,843; 6,474,326; and 6,637,421, as well as numerous other patents and pending patent applications in the U.S. and other countries. The WDP affiliate owns numerous U.S. and international patents related to the electronic control and monitoring of paintball guns, including U.S. Patent Nos. 6,311,682; 6,615,814; 6,748,938; 6,860,259; 6,941,693, as well as additional issued and pending international and U.S. patents and applications. Dye Precision owns U.S. Patent No. 5,613,483 related to spool valve paintball gun designs with additional U.S. and international applications pending.