ICON Health & Fitness, Inc. Settles Patent and Trademark Lawsuits With Nautilus, Inc.
Market Wire, May, 2007
ICON Health & Fitness, Inc. ("ICON"), the global fitness company, has entered into a settlement agreement (the "Agreement") involving patent and trademark disputes with Nautilus, Inc. ("Nautilus"), a competitor.
The Agreement brings closure to four separate lawsuits between the two companies. Prior to the settlement, ICON obtained dismissals of Nautilus' patent infringement and trademark dilution claims. The Agreement resolves all outstanding claims against ICON, as well as all of ICON's claims against Nautilus, and dismisses all remaining litigation between the two companies.
"We believe the Agreement between the two companies is a more efficient way of resolving these cases than continuing court action," said Colleen Logan, ICON's Vice President of Marketing. "We're focusing ICON's time and talent on what we're known for, which is industry leadership in fitness innovation and quality products."
The terms of the Agreement grant each party licenses to certain intellectual property holdings of the other. Additional details of the agreement are confidential.
About ICON
ICON Health & Fitness is the industry leader in fitness design, development and manufacture with international headquarters in Logan, Utah. ICON's products are available under the company-owned brand names of NordicTrack , ProForm , Weider, HealthRider , Weslo, Image, EPIC and iFIT.com, and FreeMotion Fitness for commercial fitness. The brands Reebok and Gold's Gym are licensed for home fitness products. The corporate website is www.iconfitness.com .
CONTACT: Colleen Logan 435.757.4601 cell Email Contact
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