Rite Track Settles Intellectual Property Lawsuit

Settlement Agreement with Former Employees Resolves Ownership of IP

September 9, 2009 - Rite Track, Inc., based in West Chester, Ohio today announced that a settlement has been reached between several of its former employees and Unique Engineering and Consulting Services, LLC. (UEACS) in the case related to ownership of Intellectual Property.

The lawsuit, which was originally filed in US District Court, Southern District of Ohio, Western Division on February 12, 2009, alleged that several of its former employees misappropriated Rite Track’s confidential property and trade secret information, among other things, with the intent to disclose and misuse this information for their own benefit and for the benefit of UEACS to the detriment of Rite Track. The formal Dismissal of Claims for Case No. 1:09CV109 was filed with the Court on September 8, 2009 and all parties have entered into a Settlement Agreement that outlines the terms and conditions reached by the parties.

As a result of the settlement, ownership of technology developed at Rite Track, but later marketed by UEACS and the former employees was transferred to Rite Track.

“We are pleased to have this legal matter resolved and we are happy with the way things ended up,” stated Tim Hayden, President and CEO of Rite Track. “We feel confident that our investments into R&D have been protected and we are happy to move forward with the introduction of new products,” added Hayden.

Copyright 2018 Rite Track Equipment Services, Inc.