Nippon Offers $30M To End Battery Patent Suit

Law360, New York (October 6, 2008, 12:00 AM EDT) -- Tokyo-based telecom giant Nippon Telegraph and Telephone Corp. has agreed to pay $30 million to resolve a long-running patent suit brought by the University of Texas and a Canadian energy firm alleging Nippon’s research scientist stole secret formulas for lithium rechargeable-battery technology while visiting the university.

Without admitting any wrongdoing, Nippon said Monday it struck a settlement deal with the university and Hydro-Quebec to resolve their June 2001 suit filed against it in Texas state court.

As part of the out-of-court settlement, Nippon will continue to...
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