Settlement Reached Between Koroyd SARL, Smith Sport Optics, Inc., And The Burton Corporation

Koroyd SARL, Smith Sport Optics, Inc., and The Burton Corporation announce that they have reached a settlement to resolve patent disputes in Europe and North America. They have entered into patent license agreements. The agreements provide, among other terms, that Burton will have the exclusive worldwide rights to market Wavecel and sell impact-absorbing inserts in snowsports helmets.

John Lloyd, Founder and CEO  said “Koroyd is committed to protecting our innovations and our brand partners,” said John Lloyd, Founder and CEO of Koroyd. “Our team of world-class engineers is focused on advancing protective solutions that are designed to improve safety and elevate the user experience. At Koroyd, we work to ensure that our long-standing partners benefit from a clearly differentiated scientifically validated platform of protection – one that is designed for performance, backed by data and built for peace of mind. And we will not hesitate to defend our intellectual property to ensure a fair and innovative marketplace."

The agreement follows litigation with Koroyd claiming success in a hearing in 2022, with that finidng overturned in 2004. Ultimately the parties "have reached a settlement to resolve patent disputes in Europe as well as North America."

As part of the agreements, Koroyd has granted Burton a license to continue selling redesigned helmets incorporating WaveCel impact-absorbing technology. Under the settlement terms, WaveCel technology is now restricted to use solely by Burton in those licensed, redesigned snowsports helmets, and may not be offered, supplied, or integrated with any other brands or partners in the snowsports helmet market.

Burton is the only company to whom Koroyd will be licensing its patents for use with WaveCel in the snowsports helmets market. Koroyd does not intend to issue any other licenses for use of WaveCel in the snowsports helmet market.

Koroyd is as a global leader in engineered protection. With 97 granted patents and a portfolio of cutting-edge technologies, Koroyd continues to pioneer safer, smarter and more sustainable products across the sports, motorsport, industrial, family and defence sectors.