TORRANCE, Calif., Sept. 16, 2008 (GLOBE NEWSWIRE) -- Virco(r) Mfg. Corporation and a competitor have agreed to an out-of-court settlement of Virco's claim that a chair being sold by that competitor infringed on Virco's "three slot" trademark. Without agreeing that its chair infringed on Virco's trademark, the competitor decided to re-design its chair to avoid the expense of trademark litigation.
While welcoming fair competition in the marketplace, Virco President and CEO Robert Virtue said, "We always defend our trademarks and proprietary designs because they are the most valuable assets of our corporation." Terms of the settlement were not released by either party.
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