Mar 21, 2019
I4F augments licensee protection with new labelling system and start of audit program
- Roll-out of new holographic labels starting Q2-2019
- License compliance audits to begin with immediate effect
- Two license agreements to terminate due to material breaches of contract
WILLEMSTAD, CURAÇAO– I4F, a group of companies providing patents and technologies to the flooring industry, today announced that it is introducing new measures designed to further protect its complying licensees. The company also said it has provided notice to terminate license agreements with two manufacturers – Jiangsu Simo New Materials Co. Ltd. and Weifang Green Residence Floor Material Co. Ltd. – following material breaches of contracts, despite several unanswered notifications to comply. These incude a failure to submit volume reports for products using I4F’s patented technologies as well as the non-payment of contractual fees.
As from the second quarter of 2019, I4F will roll-out its new holographic labelling system to all I4F licensees as well as initiate a license compliance audit program. These new measures are designed to extend the scope of protection for all complying I4F licensees.
John Rietveldt, I4F’s CEO, comments, “Mutually respecting all contractual obligations is essential and normal business practice for all professional parties involved in a license agreement. As a patents and technologies company, we make it our business to ensure that all our complying licensees are fully protected from those taking part in non-compliant activities by attempting to use licensed technologies for free. These new measures aim to ensure that the lay of the land is fair and equal for all I4F licensees.”
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