FAIRPORT HARBOR, Ohio – March 23, 2016 – OurPet’s Company (OTCQX: OPCO), a leading proprietary pet supply company, today announced a patent infringement settlement with Van Ness Plastic Molding Co., Inc. (“Van Ness”).
The lawsuit alleged that Van Ness’ stainless steel, rubber-bottomed bowls infringed OurPet’s ‘529 utility patent, which is for a feeding dish with rubber on the bottom where the rubber appears not to extend up a sidewall. The matter was settled favorably to OurPet’s.
Dr. Steve Tsengas, President & CEO, commented, “We are pleased with the outcome of this patent infringement case. In the future, OurPet’s will continue to protect the value of our innovative product lines, and specifically our intellectual property portfolio, which currently includes 160 patents issued or pending. Our DuraPet® line is the leading line of pet dishes in the industry. The products are patented and we have committed significant effort to enforcing our patents against copycat competitors.”
The OurPet’s Company (OTCQX:OPCO) designs, produces and markets a broad line of innovative, trend-setting pet products and accessories sold under the OurPets® and Pet Zone® brands domestically and internationally. OurPets® and Pet Zone® products are sold through leading pet specialty retailers, food, drug and mass merchandisers, direct-mail catalog and internet retailers. Since its founding in 1995, the OurPet’s Company has been building an extensive intellectual property portfolio with more than 160 patents in either issued or pending status all devoted to solving problems related to the human/pet bond. OurPet’s was named a Weatherhead Top 100 Fastest Growing Company in Northeast Ohio in 2013 and has been a Lake-Geauga County Fast Track 50 Hall of Fame local business success winner for the last eight consecutive years. In addition, the OurPet’s Company was named 2015 Business of the Year by the Painesville Area Chamber of Commerce. Investors and customers may visit www.ourpets.com and www.petzonebrand.com for more information about the Company, its products and brands.
Certain of the matters set forth in this press release are forward-looking and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: business conditions; growth in the industry; general economic conditions; addition or loss of significant customers; the loss of key personnel; product development; competition; risks of doing business abroad; foreign government regulations; fluctuations in foreign currency rates; rising costs for raw materials and sources of supply that may be limited or unavailable from time to time; the timing of orders booked; and the other risks that are described from time to time in OurPet’s Company SEC reports.
Dr. Steven Tsengas
(440) 354-6500 x111