Harness IP is pleased to announce that St. Louis patent attorneys Matt Cutler and Michael Thomas have secured another favorable patent settlement for client Exegy Incorporated. Under the license and settlement agreement, sales of NovaSparks products and services incorporating Exegy technology will be subject to a 9% royalty.
The lawsuit Exegy filed against NovaSparks in the United States District Court for Massachusetts asserting patent infringement of ten patents will be dismissed. Associated lawsuits filed by NovaSparks in the United States District Court for the District of Massachusetts and the United States District Court of the District of Delaware also will be dismissed.
“This settlement really is a win-win for both sides,” Thomas said. “The 9% royalty is a great outcome for Exegy, and NovaSparks is now licensed to incorporate Exegy technology into its products and services.”
Scott Yackey and Mike Kella were also involved and provided invaluable counsel in the lawsuits.
Exegy provides global market data and execution solutions, predictive trading signals, and hardware trading platforms to elite firms in the financial services industry, and serves as a strategic partner to leading principal traders, agency brokers, Alternative Trading System (ATS) and dark pool operators, market makers, hedge funds, and asset managers. At the heart of Exegy solutions are purpose-built, hardware-accelerated appliances derived from an extensive portfolio of patented and patent-pending technology.
Harness IP is celebrating more than 100 years as an intellectual property law firm. Founded in 1921, the firm currently holds a No. 2 ranking from IAM Media for providing counsel to 44 companies with the largest portfolios of issued U.S. patents. The firm also ranks No. 6 for filing the most patent applications on behalf of those companies. Harness IP’s attorneys and IP professionals focus exclusively on patents, trademarks, global IP management, litigation and other IP rights. The firm has offices in metropolitan Dallas, Detroit, St. Louis, and Washington, D.C. Visit www.harnessip.com for more information.