FOR IMMEDIATE RELEASE
Freedom Scientific and Serotek Announce Trademark Accord
(St. Petersburg, Florida, and Minneapolis, Minnesota - June 07, 2007)
Freedom Scientific® and Serotek jointly announced today that they have reached an agreement whereby Serotek has agreed that it was inadvertently infringing Freedom Scientific's federally-registered trademark.
"It is unfortunate that we had to take this action," said Lee Hamilton, President and CEO of Freedom Scientific, "but trademarks are valuable corporate assets, and they must be protected or they are lost. This agreement accomplishes that, and we have agreed to dismiss the lawsuit. As part of this agreement, Serotek has agreed not to use our trademark or any other trademark that is similar."
"We are pleased with the settlement agreement," said Mike Calvo, CEO, Serotek. "We will be renaming the FreedomBox and other affected products and services in a separate announcement in the near future."
About Freedom Scientific
Freedom Scientific is a leading worldwide brand of assistive technology products for those with vision impairments. Freedom Scientific is part of Vispero™. Vispero has its headquarters in the USA and the Netherlands, and offices in Switzerland, Belgium, Canada, Germany and the United Kingdom. Through Vispero's multi-tier distribution, Freedom Scientific products are available in more than 70 countries worldwide.
Freedom Scientific® and its products are registered trademarks in the United States and/or other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.