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Tranax says former biz partner Nautilus Hyosung has filed appeal in patent dispute
February 27, 2008
NEWARK, Calif. — After announcing earlier this month that former business partner, Korea-based Nautilus Hyosung Inc., had received a final ruling from the Intellectual Property Tribunal of the Korean Intellectual Property Office that its ATM locking mechanism had been invalidated, Tranax Technologies Inc. now says an appeal to the invalidation of the locking mechanism has been filed.
The original patent dispute involved two patents, one for Nautilus Hyosung's cassette mechanism and one for its locking mechanism. Nautilus Hyosung, which filed a claim of infringement in summer 2007, alleged that Tranax had infringed upon both of its patents by using the mechanisms in new products Tranax produced since the two companies severed tiesin early 2007.
Since that time, the Korean court has dismissed both patent-infringement claims, and, in a decision in a counter suit filed by Tranax, has invalidated both patents.
One period for appeal of the court's invalidation elapsed, said Tranax's Jeffrey Lee. That one related to the invalidation of the patent for the cassette mechanism.
Nautilus Hyosung did file a timely appeal of the court's invalidation of its locking-mechanism patent, saidNautilus Hyosung's Chan Park. The appeal was filed in late January.
It could be six months before the court passes down a ruling on that appeal.
"We had a very close relationship for the first 10 years, and we opened up many things to them," Park said. "We have the patent in Korea and the product in Korea."
The original patent-infringement claims filed by Nautilus Hyosung for the cassette and locking mechanisms were initially dismissed by the IPT of the Korean Intellectual Property Office.
"We believe that the invalidation order will be upheld on appeal by the Korean court," said Dr. Hansup Kwon, Tranax president and chief executive. "We look forward to focusing on our business in 2008 as we work through the appeal process."
Banking Executive SummaryRetail / Off-PremisesRegulation / LegislationManufacturersKiosks/Self-ServiceComponentsOtherNorth AmericaAsia, Australia & PacificCompany ProfilesBank / Credit UnionHyosungTranax Technologies, Inc.
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