Netac settles with PNY out of court regarding USB Flash Drive Patent

Source:Netac     Posted by:SK     Click:579     date: 2003-1-1 6:08:22     Keyword: USB Flash Drive

Netac Technology Co., Ltd (Netac for short thereinafter), as the leader of Global Mobile Storage Manufacturer and Supplier, declared in Beijing that Netac had signed already the licensing agreement about USB Flash Drive Patent with PNY Technologies, an American Company. This Declaration will close this famous Patent Infringement lawsuit against PNY filed in USA by Netac on February 16, 2006.

Netac CEO Mr. Frank Deng felt satisfied with this fruit, and the experts in this field considered that Netac is the factual winner in this settlement, reaching the prospective aim.

As well know, this is the first time for Chinese enterprise to play the role of Patent holder to sign the licensing agreement with foreign companies. Also, it sets up the milestone for Chinese IT Industrial Development and starts the time of Chinese IT Intellectual Property.