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Lantronix Reaches Patent Settlement with USR IoT in Europe
Sep. 21, 2018 09:12AM PST
Data InvestingLantronix (NASDAQ:LTRX) announced that the company has reached a settlement agreement with Jinan USR IoT Technology who now have agreed to ‘Cease and Desist’ SuperPort sales. As quoted in the press release: “We are pleased that we were able to reach another favorable outcome on our patent enforcement efforts,” stated Jeff Benck, President and Chief …
Lantronix (NASDAQ:LTRX) announced that the company has reached a settlement agreement with Jinan USR IoT Technology who now have agreed to ‘Cease and Desist’ SuperPort sales.
As quoted in the press release:
“We are pleased that we were able to reach another favorable outcome on our patent enforcement efforts,” stated Jeff Benck, President and Chief Executive Officer of Lantronix. “We intend to aggressively pursue legal action against anyone that we believe is inappropriately using our intellectual property.”
Under the settlement agreement, USR IoT has agreed to cease all sales, offers to sell and importation of its SuperPort products in the territory of the European patents.
The agreement essentially extends the previous settlement agreement reached with respect to the lawsuit Lantronix filed against USR IoT in July 2017 in U.S. District Court alleging that some of USR IoT’s products infringed Lantronix’s U.S. patents. In the original settlement, USR IoT agreed to cease and desist sales of SuperPort products in the United States.
Under the terms of the settlement, Lantronix reserved the right to enforce its foreign patents in other countries around the world. Lantronix’s XPort family of products is also protected by patents in several other international jurisdictions, including China, Japan, Hong Kong and Malaysia.