A unit of France's Schneider Electric has reportedly agreed to pay Chinese rival Chint Group 157.5 million yuan ($23 million) - roughly half the court's original award in 2007 - to settle a three-year legal battle over patents for low-voltage electrical equipment.
According to Chinese media, the highest court in Zhejiang Province (to which Schneider appealed the original $48.5 million trial judgment) was pleased that the parties settled their differences, citing domestic and international pressures.
Click here to read my earlier post regarding patent litigation in China and its impacts on U.S. companies.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment