Ford Motor Company (F) and LKQ Corporation Settle Patent Disputes
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A settlement agreement was reached today between Ford Motor Company (NYSE: F) and LKQ Corporation (NASDAQ: LKQX) -- a distributor of new non-OE aftermarket, recycled salvage and remanufactured OE parts -- in litigation filed by Ford Motor Company to protect its design patents on genuine Ford collision parts. The settlement provides that LKQ will not challenge the validity and enforceability of Ford's design patents during the term of the agreement.
The settlement ends two legal actions: The first involving replacement collision parts for Ford's F-150 pickup truck, which had advanced to the Federal Circuit Court of Appeals; the second involving replacement collision parts for the Ford Mustang, which was before the US International Trade Commission (ITC). Details about the agreement are confidential and will not be disclosed.
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