7 Rare Earth Companies to Sue Hitachi Over Patent Monopoly

ECNS.com reported that 7 rare earth companies in Japan have banded together in a legal claim against Hitachi Metals (TYO:5486). Hitachi has over 600 key patents for neodymium iron boron magnets.

As quoted in the publication:

The alliance has already kick-started the process by hiring lawyers to ensure that their production process does not infringe on the Japanese company’s patent rights. In addition, Sun and his alliance plan to prove the invalidity of three patents owned by Hitachi Metals Ltd, as part of its efforts to break the stereotype among potential customers.

Click here to read the full ECNS.com article