LAWSUITS NEWS & LEGAL INFORMATION
Infrared Infringement
Boston, MA: (Jan-13-08) Analogic Corp., a Peabody-based company, brought charges against Flight Safety Technologies Inc. (FST) and Sanders Design International (SDI), alleging license infringement. The suit, filed in 2006, claimed that FST infringed on licensing rights to infrared, anti-missile technology for commercial aircraft by signing a development agreement and co-filing for a patent related to the technology with Wilton, NH-based SDI. Records showed that three years earlier, Analogic had entered its own commercialization agreement with SDI, which developed the technology.
As part of a settlement reached, FLT agreed to issue 100,000 shares of common stock and pay $100,000 in cash to SDI. Analogic assigned its license rights in the technology to FLT, but retained certain related manufacturing rights or royalty rights. Officials stated that once a successful test of the technology is completed, FLT would issue SDI another 250,000 shares of common stock and hire three SDI employees for one-year terms, in exchange for ownership of all intellectual property associated with the anti-missile technology. SDI also would receive a royalty of 1% of gross revenue from sales of products based on these technologies. [MASS HIGH TECH BUSINESS JOURNAL: INFRARED INFRINGEMENT]
Published on Jan-16-08
As part of a settlement reached, FLT agreed to issue 100,000 shares of common stock and pay $100,000 in cash to SDI. Analogic assigned its license rights in the technology to FLT, but retained certain related manufacturing rights or royalty rights. Officials stated that once a successful test of the technology is completed, FLT would issue SDI another 250,000 shares of common stock and hire three SDI employees for one-year terms, in exchange for ownership of all intellectual property associated with the anti-missile technology. SDI also would receive a royalty of 1% of gross revenue from sales of products based on these technologies. [
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