Verasonics, Inc., a leader in ultrasound technology, has won injunctive relief and more than $5.6 million in damages, attorney fees, and costs from a Washington state arbitrator in a case of trade secret misappropriation.
The arbitrator found that Alpinion Medical Systems Company, Ltd., headquartered in Seoul, South Korea, breached both non-disclosure and lease agreements between Verasonics and Alpinion and misappropriated Verasonics trade secrets. Alpinion is a subsidiary of ILJIN Holdings Co., Ltd.
Alpinion is enjoined for five years from marketing or selling its research ultrasound product, the E-CUBE 12R, and any research ultrasound system derived from or based upon Verasonics’ trade secret information and/or confidential information that was supplied under the non-disclosure and lease agreements, or using that information for any other purpose. The arbitrator also awarded Verasonics more than $2.9 million in damages as well as attorney fees, arbitrator fees, and costs.
A privately held company based in Kirkland, Wash., Verasonics provides advanced, flexible tools to researchers and developers in biomedical ultrasound, materials science, earth sciences, and the physics of acoustics and ultrasonics. Verasonics also licenses its technology to companies for use in their commercial products. Verasonics has customers in 28 countries across North and South America, Europe, Asia and Australia. Davis Wright Tremaine has assisted the company since 2012.