LAWSUITS NEWS & LEGAL INFORMATION
Wireless Entertainment
This is a settlement for the Trademark, Copyright, Patent lawsuit.
Mirabel, Canada: (Feb-4-08) Kangaroo Media Inc. and Immersion Entertainment LLC have been locked in a long standing patent infringement and licensing dispute. Immersion Entertainment had brought charges against Kangaroo and other defendants, alleging infringement of Immersion's United States Patents.
Both sides had reached settlement and have signed definitive licensing and settlement agreements to end the complaint filed in the United States District Court for the Eastern District of Texas. Under the Patent License Agreement, Immersion grants Kangaroo exclusive worldwide rights to its intellectual property portfolio until Dec. 31, 2010. Thereafter, the exclusive worldwide rights may under certain terms and conditions be extended until the expiration of the last Immersion issued patent. Additionally, Kangaroo will pay Immersion $2 million on Feb. 1, 2008, in addition to payments of royalties on covered sales retroactive to Jan. 1, 2008 based on a royalty schedule set forth in the Patent License Agreement. The Patent License Agreement is subject to minimum royalties of $1 million for each of 2008 and 2009, which will be applied against the royalty schedule. [TRADING MARKETS: WIRELESS PATENT]
Published on Feb-5-08
Both sides had reached settlement and have signed definitive licensing and settlement agreements to end the complaint filed in the United States District Court for the Eastern District of Texas. Under the Patent License Agreement, Immersion grants Kangaroo exclusive worldwide rights to its intellectual property portfolio until Dec. 31, 2010. Thereafter, the exclusive worldwide rights may under certain terms and conditions be extended until the expiration of the last Immersion issued patent. Additionally, Kangaroo will pay Immersion $2 million on Feb. 1, 2008, in addition to payments of royalties on covered sales retroactive to Jan. 1, 2008 based on a royalty schedule set forth in the Patent License Agreement. The Patent License Agreement is subject to minimum royalties of $1 million for each of 2008 and 2009, which will be applied against the royalty schedule. [
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