Schneider and Chint Reached Global Compromise on Patent Suit
April 18, 2009On April 15, the Zhejiang Higher People’s Court announced that Schneider Electric has agreed to settle a patent lawsuit between Schneider Electric Low Voltage (Tianjin) Co., Ltd. and Chint Group Corporation by paying 157.5 million Yuan. In addition, a series of global compromise has been reached.
According to the judgment by the Beijing Higher People’s Court on March 26, 2009，Chint’s patent was valid. The Zhejiang Higher People’s Court opened 3 sessions to evidence-exchange, cross-examination and mediation. Based on the global compromise reached by Schneider Electric and Chint, Schneider Electric Low Voltage (Tianjin) reached a relevant compromise with Chint: Schneider Electric Low Voltage (Tianjin) will pay a compensation of 157.5 million Yuan within 15 days to Chint Group. If Schneider can not pay in time, Chint has the right to apply for the decision of the first instance which awarded Chint 330 million Yuan.
According to the judgment by the Beijing Higher People’s Court on March 26, 2009，Chint’s patent was valid. The Zhejiang Higher People’s Court opened 3 sessions to evidence-exchange, cross-examination and mediation. Based on the global compromise reached by Schneider Electric and Chint, Schneider Electric Low Voltage (Tianjin) reached a relevant compromise with Chint: Schneider Electric Low Voltage (Tianjin) will pay a compensation of 157.5 million Yuan within 15 days to Chint Group. If Schneider can not pay in time, Chint has the right to apply for the decision of the first instance which awarded Chint 330 million Yuan.
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