HP & ENCAD SIGN SETTLEMENT & PATENT LICENSING AGREEMENT.Hewlett-Packard Co. (NYSE NYSE See: New York Stock Exchange : HWP HWP Height (and) Weight Proportionate HWP Half-Wave Plate HWP Highway Patrol HWP Height Weight Proportional HWP Hewlett-Packard Corporation (stock symbol) HWP Hydrolyzed Whey Peptides ) and ENCAD Inc. (Nasdaq: ENCD ENCD Experiment Node Configuration Driver ENCD Encoding ) announced that they have settled all pending 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. between the two companies, which was related to large format inkjet printing. Under the mutually agreed upon settlement, all outstanding litigation related to 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. and below cost pricing litigation was terminated. The Agreement resolve patent infringement issues for current products and also gives both companies the option to take a license under a limited number of the other company's patents for future products, if required. Under the terms of the settlement, neither party will disclose additional details. HP and ENCAD agreed to an amicable settlement, which allows both companies to move beyond costly and time-consuming litigation and to focus on designing superior products for their customers. With today's settlement, the companies can focus fully on meeting the needs of their customers and competing with each other in the marketplace, rather than in the courts. |
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