Talon secures patented technology for Tekfit waistband
September 20, 2012 - United States Of America
Talon International Inc announced an end to its extended legal battle with Pro-Fit Holdings, Limited regarding Talon's rights to the patented Tekfit stretch-waistband technology, and that the Company has now completed the process of securing those patent rights within the U.S. as well as the ability to market this technology worldwide.
The litigation with Pro-Fit began in 2004 when Pro-Fit sought to void the Company's exclusive technology license and intellectual property agreement after seeing the tremendous success the Company achieved. "This highly innovative waistband technology, which the Company branded and has marketed as its Tekfit© waistband since 2002, has been incorporated into many of the top retail brands and sold through hundreds of retail outlets," noted Lonnie Schnell, Talon's CEO.
"Talon has sold the Tekfit technology under such brands as Polo Ralph Lauren, Roundtree & Yorke, Jack Nicklaus and Bobby Jones Golf, Eddie Bauer and Levi's Dockers." The Tekfit waistband has been heralded by the industry as the most advanced technology in pant designs that provide comfort-fit and stretch-flexibility in standard non-stretchable fabric. During the years 2003 through 2007 over 50 million Tekfit waistbands were used by Levi Strauss in their Dockers pants, and today these waistbands are being incorporated into quality sports and casual apparel by major retailers such as Dillard's, HMX and Sak's 5th Avenue.
"We are pleased to have this litigation now fully behind us, and more importantly, to have fully secured all patented technology rights and privileges in the process," noted Schnell. "The Pro-Fit litigation left many customers hesitant to incorporate a unique technology while its ownership was in dispute, and this uncertainty severely hampered our ability to sell this product. Despite this apprehension, the amazing capabilities of the Tekfit© technology allowed us to continue to build confidence with selected brands. Now that the uncertainty is ended, we are already seeing the retail appetite for this innovative product change," Schnell continued.
In June 2012 the Joint Administrators' Order granting the Motion to Dismiss the final matters with Pro-Fit was approved and then subsequently all patent and technology assignments were completed and finalized. The final settlement agreement provided for the unconditional release of Talon and related entities from all claims involved in the matter and for the Company's acquisition of all of the U.S. patents, licenses, rights and technology. No damages were paid by any party and all actions were dismissed with prejudice.
Talon International Inc is a global supplier of apparel fasteners, trim and interlining products to manufacturers of fashion apparel, specialty retailers, mass merchandisers, brand licensees and major retailers.
In 1996 Tag-It Pacific, Inc. acquired Talon, and in 2007 Tag-It Pacific changed its corporate name to Talon International, Inc.