MELBOURNE, Australia, April 17, 2012 /PRNewswire via COMTEX/ -- Future Fibre Technologies Pty., Ltd. ("FFT"), previously announced that it filed a lawsuit against Optellios, Inc. ("Optellios") on July 25, 2008. In the lawsuit, FFT, claimed that it is the rightful owner of United States Patent No. 7,142,736 ("736 Patent").
At that time FFT sought, among other things, that the '736 Patent be assigned to FFT, and stated that "the company firmly believed that FFT employees are the rightful inventors of the '736 Patent, and that the patent belonged to FFT." In response, Optellios asserted in part that the suit was precluded by a previous settlement agreement between the parties.
On August 15, 2011, the United States District Court for the District of Delaware found in favor of FFT on this issue and denied the Optellios motion to enforce the previous settlement agreement.
FFT is pleased to announce that the parties have now reached a comprehensive settlement of the dispute and a Consent Judgment and Order has been issued dismissing the case. Importantly:
a. On December 22, 2011 Optellios assigned the '736 Patent to FFT, and FFT is now the sole owner of the '736 Patent, and
b. On April 4, 2012, the United States District Court for the District of Delaware issued an order to correct the inventorship of the '736 Patent and ordered the United States Patent and Trademark Office to add the FFT inventors to the 736 patent.
"We are pleased that this action is settled, and we have succeeded in our goal to be the sole owner of the '736 Patent, and that the court agreed that the FFT inventors be added to the patent," said Rob Broomfield, CEO of FFT.
Future Fibre Technologies (FFT) is the global leader in the design and manufacture of fiber-optic sensing technologies. Applications include data communications security, oil and gas pipeline third party interference detection, and fiber-optic perimeter intrusion detection systems for sites such as military bases, airports, petrochemical plants, and refineries. Established in 1994, FFT has offices in the USA, Europe, Middle East, India and Australia.
SOURCE Future Fibre Technologies Pty., Ltd.