Reuters logo
BRIEF-Photon Control signs LOI to resolve litigation against Photon Control R&D Ltd
March 20, 2017 / 7:29 PM / 6 months ago

BRIEF-Photon Control signs LOI to resolve litigation against Photon Control R&D Ltd

March 20 (Reuters) - Photon Control Inc

* Photon Control signs letter of intent to resolve litigation

* Signs letter of intent to resolve litigation

* Proposed settlement would remove significant “uncertainty and distraction” for Photon Control and its customers

* Settlement would more than halve existing royalty rates and term of disputed agreements

* Photon Control would acquire undisputed ownership of intellectual property and internalize R&D activities

* Under terms of settlement, R&D employees will be transferred to and hired by Photon Control

* Signed LOI which lays out terms of a proposed settlement to resolve legal actions commenced by co against Photon Control R&D Ltd Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below