Tern Signs IP Licensing Deal with Avocet Sports
TAIPEI, Taiwan – Tern announced today that the company has signed a licensing agreement with UK bike specialist Avocet Sports Ltd. for use of its patented frame design in Avocet’s Ferrari 20-inch folding bike. The agreement covers all Ferrari bikes imported into the UK by Avocet to date as well as future imports of bikes that include Tern intellectual property.
The infringing frames were manufactured in China by Komda Holdings Ltd. and the complete bikes were supplied through a Taiwan trading company. Neither of the companies were licensed to make use of the patented Tern design.
“We were pretty surprised to see these bikes utilizing our patented design,” stated Joshua Hon, Tern Team Captain. “We thank Steve Walsh for acting quickly to fix a friendly agreement for use of our design.” Tern holds Walsh blameless the company’s legal department has issued Komda with a cease and desist letter and is investigating similar bikes sold to other Komda customers. So far Tern has not received any comment from Komda.
The frame design in question is patented in China, Taiwan, and the EU. Tern has more than 70 patents for various technologies and designs globally. “We have a large team of skilled and dedicated people working on our product designs and technology and it is important for us to protect that intellectual property,” continued Hon. “I’m sure that every company creating their own IP knows exactly how we feel. For our industry to grow and thrive, we need to innovate and the only way we can do that is if our innovation isn’t quickly ‘borrowed’ by other companies.”