Koroyd SARL, Smith Sport Optics, Inc., and The Burton Corporation announce that they have reached a settlement to resolve patent disputes in Europe and North America.
The three companies have entered into patent license agreements. The agreements provide, among other terms, that Burton will have the exclusive worldwide rights to market Wavecel and sell impact-absorbing inserts in snowsports helmets.
As part of the agreements, Koroyd has granted Burton a license to continue selling redesigned helmets incorporating WaveCel impact-absorbing technology. Under the settlement terms, WaveCel technology is now restricted to use solely by Burton in those licensed, redesigned snowsports helmets, and may not be offered, supplied, or integrated with any other brands or partners in the snowsports helmet market.
Burton is the only company to whom Koroyd will be licensing its patents for use with WaveCel in the snowsports helmets market. Koroyd does not intend to issue any other licenses for use of WaveCel in the snowsports helmet market.
