Whalen Furniture Mfg. Inc. has announced that it and TechCraft Manufacturing, Inc. reached an agreement to settle the patent dispute between them regarding 3-in-1 television mounts. Both companies are involved in the manufacture and sale of ready-to-assemble, flat-panel television mounting systems, Whalen pointed out.
The parties have agreed that TechCraft will discontinue sales of all 3-in-1 television stands and/or mounting products, Whalen noted, although TechCraft may sell off its current inventory of the products that were at issue in the patent litigation.
Whalen added that, to avoid any controversy concerning the settlement in the marketplace, both parties have agreed to provide a statement announcing the agreement to the market.