Mako Surgical Corp entered into a settlement with Stanmore Implants Worldwide Ltd. over a patent dispute. The settlement denoted that Mako will receive Stanmore's robotic business assets as well as its intellectual property. Furthermore, Mako has agreed to drop its patent-infringement litigation in two federal courts and the U.S. International Trade Commission, and Stanmore will withdraw from robotics.
The dispute between Mako and Stanmore revolved around computerized surgical devices and software. Mako is a Florida-based company, and Stanmore is a London-based company that received U.S. regulatory approval to market one of its products that is used for knee surgery. Stanmore's Sculptor Robotic Guidance Arm competed with Mako's RIO Robotic Arm Interactive Orthopetic system. By securing the property division of its competitor, Mako has effectively taken a potential robotic competitor off the market, says an analyst.
Analysts estimate the cost of Stanmore's asset purchase to be less than $1 million. The agreement eliminated the cost and distraction of litigation, which was projected to have cost Mako as much as $6 million in legal fees over the next year. Stanmore reports that it is pleased to have reached closure in the matter, and Mako expresses that it is looking forward to the possibility of partnering with Stanmore on future projects.
When litigating any sort of property division, it is always wise to have the representation of a lawyer. Lawyers may help negotiate litigation that is in the best interests of their clients. Lawyers not only aid businesses with their business assets and equitable division negotiations, but they also aid people in dividing their property in a divorce. Division of marital property sometimes requires much litigation between lawyers to ensure that each client receives a fair portion of assets.
Source: Bloomberg, "Mako to acquire Stanmore robotic assets in patent settlement," Catherine Larkin & Susan Decker, Apr. 16, 2013