firmenpresse print | Classen and Välinge have reached a settlement and cross license agreement regarding fold down system
06.05.2008
Classen and Välinge have reached a settlement and cross license agreement regarding fold down system
On April 21, 2008 Classen and Välinge have executed an agreement which puts an end to their legal disputes related to fold down patent rights and creates a framework that allows easier access to the respective Megaloc and 5G technologies for future licenses. Viken, Sweden, April 2008. Present licensees will be offered an indemnification on the other party’s patents. New licensees will be able to receive a license based on both party’s patents.
Fold down installation technology for laminate and wood floorings, with angling of long side and vertical folding on short side comprising a flexible tongue, offers considerable advantages over other installation methods.
Commercial products have been on the market since 2005. The fold down installation method has been very well received by the consumers and considerable volumes have been supplied in the last quarters. The parties anticipate that this new installation technology, commonly known as the Classen Megaloc system and the Välinge 5G system, will rapidly capture an even larger market share now when the legal uncertainties have been eliminated.
About 30 companies have already entered into a license agreement with Välinge on the fold down technology and 15 companies have introduced laminate and wood floorings on the market using the new technology.
The parties agree upon that Välinge will act as the major but not sole licensor and will offer licenses on all fold down systems as patented and developed by the parties.
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