Callaway Golf and Acushnet Company have jointly announced a settlement of all the pending litigation and disputes between them. No money is changing hands, but under the terms of the agreement, each company will have specified rights to make ball and club products under patents owned by the other. Details of the settlement are confidential, but the two companies point out that it goes beyond the legal suits involving their golf balls. Since 2008, Callaway has been saying that Acushnet's best-selling Titleist Pro V1 and V1x golf balls infringed on its own patents. After winning a temporary injunction in a U.S. court at the end of 2008, Acushnet won a patent case in the U.S. Patent & Trademark Office that let the issue drag on in several other U.S. courtrooms. Callaway was seeking damages of $246 million in the case. Since then, Acushnet, which also owns FootJoy, has become a property of Fila Korea and other Korean investors.

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