ReSound Corp. settles Yanick patent lawsuit.REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--April 28, 1995--ReSound Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :RSND) Friday announced that it had settled its pending patent-infringement lawsuit with Dr. Paul Yanick. In exchange for a one-time lump-sum royalty payment, the lawsuit, brought by Yanick in 1994 in the U.S. District Court of New Jersey, will be dismissed and ReSound will receive a fully paid license to use all of Yanick's trade secrets and patented technology, including the four patents involved in the lawsuits. The cost of this settlement was part of the provision for 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. recorded in the fourth quarter of 1994. The licensed patents cover all of Yanick's inventions in the hearing-aid field and apply, among other things, to: hearing aids Hearing Aids Definition A hearing aid is a device that can amplify sound waves in order to help a deaf or hard-of-hearing person hear sounds more clearly. with recruitment compensation; hearing-aid amplifiers employing selective gain control circuits; loudness contour compensated hearing aids having ganged volume, band pass filter See bandpass filter. and compression control; audio processors for use in high-noise environments; and hearing aids using single side band clipping with output- compression amp. In addition, Yanick will become a part-time consultant to ReSound, assisting the company in the areas of new product, process and protocol development. Peter Riepenhausen, president and chief executive officer of ReSound, in commenting on the settlement, said: ``We are pleased to add Yanick's inventions to the company's portfolio of patent- protected technology. ``Settlement of this matter also allows us to avoid diversion of cash and management time to the costly process of protracted pro·tract tr.v. pro·tract·ed, pro·tract·ing, pro·tracts 1. To draw out or lengthen in time; prolong: disputants who needlessly protracted the negotiations. 2. litigation. We are especially pleased to have worked out a solution that is mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" to both Dr. Yanick and the shareholders of ReSound.'' ReSound is a leading worldwide manufacturer of technologically advanced hearing devices for the hearing-impaired. The company designs, develops and manufactures its acoustic hearing-device products utilizing proprietary and patented sound-processing technology originally developed at AT&T Bell Laboratories and subsequently enhanced and refined by ReSound. CONTACT: ReSound Corp., Redwood City Paul Busse, 415/780-7800 |
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