TVS Motor Company and Bajaj Auto have settled a decade-old dispute related to patent rights for spark plugs.
The companies said they entered into a settlement agreement on Thursday to amicably settle the decade-old dispute related to alleged infringement of Bajaj's patent for digital twin spark plug ignition technology.
The patent by Bajaj Auto was related to improvement in the combustion characteristics of a four-stroke internal-combustion engine and the dispute occurred after allegations were raised that TVS Motor's 125-CC bike Flame infringed the patent.
The settlement also includes a defamation suit by TVS Motor against Bajaj and other related proceedings