Xpel Technologies, a supplier of automotive paint protection and window protection films, said it reached a settlement agreement with 3M Company in a patent infringement lawsuit.
Xpel said that on December 30, 2015, 3M Company and 3M Innovative Properties Company filed a complaint in the US District Court for the District of Minnesota alleging that XPEL was infringing US Patent No. 8,765,263 entitled “Multilayer Polyurethane Protective Films.”
Under terms of the settlement, XPEL will acquire a license to the ‘263 patent.
3M and Xpel agreed to dismiss the lawsuit without prejudice.
“I am pleased we have been able to resolve this matter and look forward to continuing to deliver high-quality products and services to our customers,” said Ryan Pape, Xpel chief executive officer.