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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 06/15/07 |
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Smart Parts Smart Parts and KEE Action Sports Settle Patent Litigation
June 15, 2007 - Smart Parts, Inc. and KEE Action Sports, LLC announced the signing of a settlement agreement resolving the litigation that Smart Parts brought against KEE earlier this year in the Eastern District of Texas. As part of that settlement, KEE and Smart Parts have agreed to a worldwide, non-exclusive, royalty-bearing license under Smart Parts’ Electronic Paintball Gun Patents, including U.S. Patent Nos. 5,881,707; 5,967,133; 6,035,843; 6,474,326; 6,637,421; 7,100,593 and their foreign counterparts. In addition, although denying infringement, KEE has agreed to phase out certain barrel insert kit products, which Smart Parts asserted were infringing other patents. Also as part of the settlement agreement, Smart Parts has entered into a distribution agreement with KEE whereby KEE will be an authorized distributor of Smart Parts products.
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