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Korean government invalidates two of Nautilus Hyosung's patents
February 4, 2008
NEWARK, Calif. — Tranax Technologies Inc., a developer of ATMs and self-service terminals, announced in a release that the Intellectual Property Tribunal of the Korean Intellectual Property Office officially invalidated Nautilus Hyosung's patent on their ATM locking mechanism. The decision became final and non-appealable on January 29, 2008.
This patent invalidation is the culmination of a string of court and IPT proceedings between the two companies. In June 2007, Nautilus Hyosung filed for an injunction with a Korean trial court against Tranax Korea, Hantle, and BCI (both Hantle and BCI are Tranax's suppliers) for alleged patent infringements related to Tranax's ATM cash dispenser and locking mechanism. Tranax and its suppliers responded by disputing the validity of Nautilus Hyosung's patents, and in September 2007, the trial court dismissed the case in its entirety.
Following the trial court's dismissal, Tranax and Hantle petitioned the IPT to invalidate the two Nautilus Hyosung patents that were the subject of the dispute. On November 26, 2007, the IPT invalidated Nautilus Hyosung's patent on the ATM cash dispenser. This was followed by the invalidation of the patent on the locking mechanism on December 27, 2007. Both of these decisions became final and non-appealable, the latter on January 29.
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