Sonosite Says Patent Lawsuit With GE Resolved

Stock quotes in this article: GE , SONO  

BOTHELL, Wash. (AP) — SonoSite Inc., a maker of hand-carried ultrasound devices, said Monday a patent lawsuit initiated by General Electric Co. has been resolved with the industrial conglomerate paying $21 million for royalties in exchange for a license.

GE, based in Fairfield, Conn., sued SonoSite in 2008, seeking to invalidate its U.S. patent for the hand-held ultrasonic instruments. SonoSite said at the time there was no legal basis for the lawsuit.

Under the terms of the settlement agreement, GE will pay the Bothell, Wash.-based SonoSite $21 million and an ongoing royalty on U.S. sales and production of hand-carried ultrasound systems weighing less than 10 pounds in exchange for a perpetual nontransferable worldwide license, SonoSite said.

SonoSite will receive the royalties until the patent expires in 2016.

In addition, pending legal actions between SonoSite and GE, and cross-license to the other party's patents asserted in the lawsuits are dismissed, SonoSite said.

The settlement also includes a dispute resolution process to avoid help avoid litigation in the future.

  • Loading Comments...
  •  
< Previous
1 2

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,471.50 1,106.41 2,190.31 35.40
Oil *
71.66
UP
65.67
UP
4.06
DOWN
0.55
UP
0.58
10 Yr
3.54%
SPDR Gold
109.32
+0.63%
+0.37%
-0.03%
+1.67%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services