Nippon sues Posco for infringing on tech patentNippon Steel, a 12-year partner of Posco, has sued Korea’s No. 1 steel maker, accusing it of violating its technology patent, according to the Japanese business daily Nikkei.
The largest steel company in Japan submitted a complaint with a court in Tokyo demanding 100 billion yen ($1.2 billion) in damages for infringing its patent for an electric steel making technology. Nippon insists that Posco acquired the technology to produce high value-added steel materials for electric and hybrid cars from one of its retired employees. It also asked for a ban on the Posco products.
“Posco has not infringed the patent and we will respond to these legal charges with equal aggression,” said a Posco official.
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