Monday, July 8, 2024
i4F®, a company group offering patents and technologies to the flooring industry, recently announced it has successfully secured payment from Chuzhou Jingtian New Decoration Material Co., Ltd. (Jingtian) in China. This outcome follows legal proceedings where the Chuzhou Intermediate People’s Court reviewed evidence that Jingtian owed i4F unpaid royalties for products utilising i4F patented technologies.
i4F successfully obtained an asset preservation ruling from Chuzhou Intermediate People’s Court on various assets belonging to Jingtian. The court also ordered Jingtian to pay i4F. Payment was made by Jingtian to obtain the release of the asset preservation order.
i4F is satisfied that these proceedings validate the strength of the Chinese legal system to obtain fair rulings as well as decisions relating to royalty claims in China. This validation coupled with the multiple compliance actions underway in various jurisdictions reinforces i4F drive to ensure licensee’s compliance. This includes the payment of royalties for all products utilising i4F patented technologies.
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