NEW YORK — XR Brands has settled a patent infringement dispute with Lovehoney Group subsidiary WOW Tech Group over the brand's Pleasure Air Technology.
According to a rep, the lawsuit, which had been filed by WOW, was settled amicably, with XR Brands agreeing to become a licensee of WOW Tech’s patent portfolio covering a range of their Suction Stimulating Toys, as well as to pay an undisclosed amount to WOW for the settlement, and ongoing royalty payments for continued use of the patented technology.
“This agreement reaffirms WOW Tech’s commitment to protecting our intellectual property, which is the result of years of innovation, investment, and dedication to advancing the sexual wellness industry,” said Lovehoney CEO Johannes Plettenberg. “We appreciate XR Brands’ willingness to recognize the value of our IP and look forward to a productive licensing relationship that supports innovation while respecting creators’ rights.”
Added XR Brands President Rebecca Weinberg, “XR Brands has always been a supporter of innovation and fair competition in the marketplace. We are pleased to have reached a resolution that enables us to move forward while honoring WOW Tech’s intellectual property. We value this opportunity to work together and offer our customers the ability to sell these top-selling products, knowing they are covered by this license agreement.”
