Howell, Michigan--Chem-Trend LP and affiliate, Chem-Trend (Deutschland) GmbH, have agreed to settle a civil suit against RATEC International GmbH and other defendants over misappropriation of Chem-Trend trade secrets.
According to a settlement recorded by the Hanseatic Court of Appeal (Hanseatisches Oberlandesgericht, Hamburg/Germany), the defendants must pay Chem-Trend "a substantial amount" in compensation for lost earnings and are prohibited from producing or marketing products based upon more than one hundred Chem-Trend mould release agent formulae.
This settlement follows an earlier ruling by the Trademark and Competition Division of the Hamburg District Court (Landgericht), that the defendants misappropriated Chem-Trend product formulations in violation of the provisions of the Act Against Unfair Competition (UWG) relating to the protection of business and trade secrets.
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Website of Chem-Trend
Website of Gorapur (new name of RATEC)