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Tuesday, 8 April 2008

Netac and PNY Settlement

China Daily reports that Shenzhen-based Netac Technology Co Ltd, has reached a settlement with "PNY Technologies Inc, a market leader in the US computer storage retail market" after a two year lawsuit. The compromise solution was to ink a licensing contract allowing PNY to make use of Netac’s patent.

Netac's China patent bears the reference number ZL 99117225.6 and was approved as US patent 6,829,672.

The figure in the settlement agreement was not revealed in the report. It was however reported that
Netac has 336 patents globally, of which 245 are invention patents. It licenses 32 patents across the world, including the Chinese mainland, the US, South Korea, Hong Kong, Taiwan, Singapore and Malaysia.

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