Magpul, Gibbz settle patent dispute
Firearm accessory makers Magpul Industries and Gibbz Arms settled an eight-month dispute over designs for a locking mechanism.
Both parties agreed to dismiss claims and counterclaims with prejudice in a Texas federal court, according to a motion filed last week.
According to court documents, Mapul alleged Gibbz violated three patented designs regarding its M-Lok system. A month before Magpul filed suit, Gibbz announced licensing opportunities for a similar product called the GAMA system.
In response to the lawsuit, Gibbz denied the allegations and filed counterclaims over Magpul’s alleged use of one of Gibbz’s patented designs.
Magpul said in a statement that the dispute was settled “on confidential and mutually agreeable terms.” Under the settlement, Gibbz agreed to assign patent rights related to the dispute to Magpul.
Also, Magpul said interested parties will be able to adopt the M-Lok system via free license.
The post Magpul, Gibbz settle patent dispute appeared first on Guns.com.
Source: http://www.guns.com/2016/12/19/magpul-gibbz-settle-patent-dispute/
