Classen and Välinge have executed an agreement that will put an end to their legal disputes related to fold down patent rights creating a framework that allows easier access to the respective Megaloc and 5G technologies for future licenses.
Present licensees will be offered an indemnification on the other party’s patents. New licensees willbe able to receive a license based on both party’s patents.
The parties have agree that Välinge will act as sole licensor for the combined Välinge/Classen patents and will offer licenses on all fold down systems as patented and developed by the parties.
Fold down installation technology for laminate and wood floorings, based on the Välinge 5G systems and the Classen Megaloc system offers considerable advantages over other installation methods.
Commercial products have been on the market since 2005 and this year about 270 Mm2 of laminate and wood floors are expected to be installed with the fold down technology. The parties anticipatethat this installation technology will continue to capture an even larger market share now when the legal uncertainties have been eliminated.