YOLO Medical Inc & Lila Enterprise reach agreement
VANCOUVER, Oct. 21, 2015 /PRNewswire/ - YOLO Medical Inc., ("YOLO") an industry leader in medical and aesthetic device manufacturing and distribution, announced today that it has reached an agreement with Lila Enterprise, LLC.
On August 19, 2014 YOLO commenced legal action for patent infringement against Chromogenex Technologies Ltd., Chromogenex US Inc., Strawberry – Laser Lipo Ltd., Lila Enterprise, LLC., Lipolaser Centers of America, One Source Media and Brandon Robinson.
"We are pleased to announce that we have come to an agreement with Lila Enterprise, LLC. This lawsuit was a necessary action that YOLO undertook in order to protect its customers, its brand, its technology, its intellectual property and its future," states Robert J. Krznaric, President and CEO of YOLO Medical Inc. "YOLO remains resolute in protecting the years of work and dedication invested in establishing itself and its technology at the forefront of the medical and aesthetic industry. We take it very seriously when companies and individuals breech our patents and we will protect our Intellectual properties aggressively at all cost."
Krznaric, goes on to say, "we are pleased that Lila Enterprises realized that it was a losing proposition to breech our patents, and during negotiations, it was quickly determined and acknowledged that an agreement had to be reached. Both parties are pleased with the direction that the negotiations took and feel that the final agreement is beneficial for both entities moving forward".
Mark Patterson, former President of LiLa Enterprise, LLC states, "LiLa Enterprise, LLC filed Chapter 7 and issued all inventory and liquid assets as required by Chapter 7 guidelines." Patterson further acknowledges that LiLa Enterprise, a previous master US distributor for Strawberry Laser-Lipo, LTD (UK) and product distributor for Chromogenex US, Inc., officially dissolved all agreements and distribution rights with both manufactures in 2015. "Our decision to cease all agreements with both manufactures was primarily based on on-going litigation surrounding YOLO's patent infringement claims."
Even though LiLa Enterprise is not the manufacturer but a product distributor, the USPTO recognizes "Patent infringement is the act of making, using, selling, or offering to sell a patented invention, or importing into the United States a product covered by a claim of a patent without the permission of the patent owner". LiLa Enterprise recognizes the impact of the USPTO's statement and the principals have officially ended Lila's operations now and perpetually.
About YOLO Medical Inc.
YOLO Medical Inc. - YOLO is a leader in the aesthetics industry with a global distribution footprint. YOLO's technology enables physicians to provide advanced solutions for medical-aesthetic applications, including body contouring, treatment of cellulite and pain management. The company's commitment to innovation expands throughout North America, Europe and Asia. Founded in 2003, the corporate, R&D, and manufacturing headquarters for YOLO Medical Inc. are located in British Columbia, Canada.
Additional information can be found at www.yolomedical.com.
SOURCE YOLO Medical Inc.
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