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US: Bitter soybean patent spat resolved, $1B verdict dropped

By  |  March 26, 2013

A longstanding patent dispute between two of the world’s largest seed companies has come to an end. Monsanto Co and DuPont have reportedly settled and both dropped their lawsuits against each other concerning patents for generically modified seeds. The suit began over controversy concerning soybean seeds. DuPont’s $1 billion verdict will be dropped, but the company will make royalty payments for soybean genetic material. Included in those payments will be $802 million for various technology, to be paid between 2014 and 2017.

 

Full Content: Reuters

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