Sonosite Says Patent Lawsuit With GE Resolved
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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV