Classen and Välinge reach settlement and cross license agreement
29/04/2008 - 15:29
On April 21, 2008 Classen and Välinge have executed an agreement which puts an end to their legal disputes related to fold down patent rights and creates a framework that allows easier access to the respective Megaloc and 5G technologies for future licenses.
Present licensees will be offered an indemnification on the other party’s patents. New licensees will be able to receive a license based on both party’s patents.
Fold down installation technology for laminate and wood floorings, with angling of long side and vertical folding on short side comprising a flexible tongue, offers considerable advantages over other installation methods.
About 30 companies have already entered into a license agreement with Välinge on the fold down technology and 15 companies have introduced laminate and wood floorings on the market using the new technology.
The parties agree upon that Välinge will act as the major but not sole licensor and will offer licenses on all fold down systems as patented and developed by the parties.
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