Nautilus, Inc. and Icon Health and Fitness have settled all outstanding litigation between the two parties. The settlement brings an end to more than four years of intellectual property challenges in federal court, including cases on appeal and currently pending in federal court in Seattle and Salt Lake City.
The two companies began mediation in September 2006, in advance of an upcoming federal trademark case in Seattle. A months-long negotiation process resulted in resolving all outstanding claims in federal court in Salt Lake City and Seattle. Specific terms of the settlement were not disclosed, but the settlement involves Nautilus receiving access to certain intellectual property.
“We are pleased with the outcome because it gives us new tools, patents and intellectual property to further streamline our products, thereby improving top line growth and margin improvement and further fueling our innovation pipeline,” said Gregg Hammann, Chairman and CEO of Nautilus, Inc. “As a company committed to innovation, it is important that we vigorously protect and defend our intellectual property.”
