Phoenix IP, Emerson Electric Settle Patent Suit

Law360, New York (August 01, 2008, 12:00 AM ET) -- Patent-holding company Phoenix IP LLC has settled a dispute with technology and engineering company Emerson Electric Co. over patents related to computer-assisted utilities sales and energy expense forecasting.

On July 31, Texas-based Phoenix IP and Emerson Electric jointly moved to dismiss with prejudice all claims and counterclaims in the case. Judge T. John Ward of the U.S. District Court for the Eastern District of Texas approved the joint motion Monday.

Under the settlement agreement signed July 21, both parties agreed to bear their own costs, expenses...
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