Patlex, Lumonics Sign Pact on Laser Patent

Patlex Corp. announced that it has signed a laser-patent license agreement with Lumonics, a Canadian manufacturer of lasers. Patlex said the agreement will provide for an initial payment of $500,000, plus a minimum of $200,000 a year in royalties for each of the next seven years. The agreement settles a lawsuit Patlex had filed against Lumonics for patent infringement in the United States and Canada.

Patlex, based in Chatsworth, holds laser patents and is now battling its way through the court system to try and uphold them. Patlex has granted patent licenses to much larger firms, including Ford, General Electric and Motorola.