Chevron Forced To Settle Oil Patent Spat

Law360, New York (September 21, 2009, 7:49 PM EDT) -- A federal judge has ordered Chevron Corp. and Texaco Inc. to comply with a settlement with the Institut Francais du Petrole, resolving a short-lived contract dispute over the rights to a portfolio of patents covering a refining process.

Judge Jed Rakoff of the U.S. District Court for the Southern District of New York ordered the two oil giants to execute a July settlement agreement and assign the portfolio to IFP.

The parties have been in conflict for several years after the 2001 merger between Chevron and...
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