Largan Precision Co. settles trade secret infringement lawsuit with local rival, Ability Opto-Electronics

　On March 5, 2021, both Largan Precision Co., Ltd. (hereinafter referred to as “Largan”) and Ability Opto-Electronics Technology Co., Ltd. (hereinafter referred to as “Ability”) issued a statement to announce that the companies have inked a confidential settlement agreement on the lawsuits involving trade secret disputes.  According to the settlement agreement, Largan will withdraw all lawsuits including the provisional seizure petition and damages claim against Ability.  Details of the settlement agreement should be kept confidential for involving trade secrets of the companies.  

  For the civil aspects of the case where Largan’s former employees colluded with Ability to steal and use Largan’s trade secrets and even successfully filed patent applications involving the stolen technology data, on January 28, 2021, the IP Court upheld the first instance judgment in favor of Largan by establishing Ability’s and the other defendants’ infringement and ordered Ability and the other defendants to jointly and severally pay about TWD1.52 billion to Largan in compensation.  Now with a successful settlement reached by the companies, this long-drawn-out litigation between Largan and Ability has finally ended.  (Released 2021.03.05)  

/CCS