Trim-Lok Inc., with headquarters located in Buena Park, Calif., announced in a release Monday (Oct. 23) that any and all intellectual property and patent infringement disputes between LTI Boyd have been mutually resolved to the satisfaction of both parties.
Although the terms of the settlement could not be disclosed, neither party admitted wrongdoing and LTI Boyd has dropped its patent infringement lawsuits against Trim-Lok.
Trim-Lok has since developed and patented its own line of more highly engineered sealing solutions to compete with the products that were in dispute, the release stated.
“I’m very pleased that both of our pending patent infringement disputes with LTI Boyd have been resolved,” said Dan Whitener, executive vice president of Trim-Lok. “In addition no infringement was determined by the court and a settlement was reached between both companies.”
Whitener went on to say that Trim-Lok has a 50-year history of “innovating and producing high quality plastic and rubber sealing solutions for the RV markets. We work side-by-side with our customers to develop best-in-class engineering solutions that provide the highest quality, lowest cost sealing solutions that are environmentally friendly.”
“With Trim-Lok’s support,” he continued, “our customers are able to streamline their new product development cycle times while providing higher quality sealing solutions. Trim-Lok spent close to a seven-figure sum fighting these frivolous lawsuits but felt, in the end, that money would be better spent developing better products that would help our customers serve their customers. We will continue to invest in these market-leading solutions and will vigorously defend those investments where required for the benefit of our customers and shareholders.”