Chanel Settles Pending Patent Infringement Litigation With NeoStrata Company Subsidiary TriStrata Technology Inc.Business Editors PRINCETON, N.J.--(BUSINESS WIRE)--Aug. 16, 2000 TriStrata Technology Inc. ("TTI TTI Texas Transportation Institute TTI Thoracic Trauma Index TTI Transmission Time Interval TTI Travel Time Index TTI Travel Technology Initiative TTI Technology Transfer Initiative TTI Traffic and Traveller Information TTI Technology Transfer Institute ") and Chanel Inc. ("Chanel") have settled the patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. currently pending between the two companies in the United States District Court for the District of Delaware The United States District Court for the District of Delaware is the Federal district court having jurisdiction over the entire state of Delaware. The Court sits in Wilmington. Currently, three judges and two magistrate judges preside over the court. . The settlement consists of a license agreement, the financial terms of which are confidential. TTI is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of NeoStrata Company Inc., founded by Drs. Ruey Yu, O.M.D., Ph.D., and Eugene Van Scott, M.D., who are widely recognized as pioneers in alpha hydroxyacid skin care technology and who are the inventors of more than 70 patents relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc alpha hydroxyacid technology. The settlement resolves litigation concerning TTI's claim of patent infringement arising from Chanel's alleged use of certain U.S. patents owned by TTI relating to the use of alpha hydroxyacids for the reduction of human skin wrinkles and the alleviation of the signs of dermatological aging. Chanel is the most recent defendant to settle the patent infringement litigation with TTI. Previous settlements have been reached with Beiersdorf and Lenier Health Products Inc. The litigation is still pending and proceeding against Clarins Inc.; Murad Skin Research Laboratories Inc.; Howard Murad Dr. Howard Murad, a board-certified dermatologist and Associate Clinical Professor of Dermatology at UCLA, is widely acknowledged as one of the country’s foremost authorities on skincare, with a thriving practice in El Segundo, California. , M.D.; L'Oreal; and Neoteric ne·o·ter·ic adj. Of recent origin; modern. [Late Latin ne  tericus, from Greek ne Inc. TTI was represented in the settlement by Kevin M. McGovern, Esq., and Brian T. Foley, Esq., of McGovern & Associates, Greenwich, Conn. Chanel Inc. joins the growing list of companies that have licensed certain aspects of TTI's AHA technology including: Allergan; Avon; Bristol-Myers Squibb; Beiersdorf; Canderm Pharma; Cognis; Collagen Corp.; Conopco, a subsidiary of Unilever (Chesebrough-Ponds and Elizabeth Arden); Erno Lazlo; Genesis Pharmaceutical Inc.; IGI IGI International Genealogical Index IGI International Gemological Institute IGI I'm Going In IGI I Get It IGI Institute of Geologists of Ireland IGI Inspector General for Investigations IGI Institution Gang Investigator (prisons) Inc.; Merz Pharmaceuticals; M.D.F. Acquisitions Corp.; Nucelle Inc.; Summers Labs; Stratus Pharmaceuticals; and Stiefel. NeoStrata Company Inc. is a research-based dermatological company dedicated to the advancement of skin care and dermatological treatments. It is the medical community's internationally recognized leader in developing Alpha Hydroxyacid technology and formulations. NeoStrata offers a comprehensive line of professional and consumer skin care products based on its exclusive advanced AHA technology. NeoStrata Company Inc.'s NeoStrata(R) brand products are marketed to dermatologists and plastic surgeons in the United States through an exclusive marketing and distribution agreement with Johnson & Johnson's Ortho Dermatological and internationally in more than 40 countries through local distributors. NeoStrata also markets Exuviance(R) as its prestige consumer skin care line of products. Scott and Yu were the first to demonstrate the clinical benefits of AHAs in treating photodamaged skin and other dermatological conditions fueling the Alpha Hydroxyacid skin care revolution. They have devoted nearly 30 years to research the potential of AHAs, resulting in numerous scientific publications and patents covering the use of AHAs in dermatology and skin care. NeoStrata and its founders continue to focus on discovering, patenting and developing unique, new AHAs and formulations for enhancing skin health and treating many skin conditions. |
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