STOCKHOLM (BRAIN) — MIPS and POC Sweden say they have agreed to settle a legal dispute over intellectual property used in ski and bike helmets. The companies say they have agreed to work together to develop safer helmets.
POC was one of the first helmet brands to use MIPS technology, said to reduce the likelihood of brain injuries from rotational impacts on a helmet. But last year POC began using its own SPIN technology that made similar claims.
MIPS announced in November last year that it had received a preliminary injunction in Germany barring sale of POC helmets with features that MIPS said violated its patents. POC later filed a counter claim against MIPS.
Now, both companies put out statements Thursday saying they had reached a settlement.
"The settlement agreement does not include any obligation for any party to reimburse the other party for the costs incurred in relation to the legal proceedings. The companies intend to jointly develop safer helmets combining POC and MIPS' strengths in technological innovation, style and quality. The cooperation is estimated to have a limited impact on the 2018 net sales of MIPS," the statements said.
