Fri, Jul 07, 2006
The long saga of the
Dyna-Cam engine program, which once hoped to revolutionize aviation
powerplant technology, seems to be over -- for good.
Axial Vector(TM) Engine Corporation tells ANN that on May 16,
2006, Axial Vector Engine Corporation signed a Settlement Agreement
and Mutual Release with Dennis Palmer and Patricia Wilks resolving
the litigation filed by Axial Vector Engine Corporation against
Palmer and Wilks over the purchase of the Dyna-Cam assets.
The settlement involved a confirmation by Palmer and Wilks of
the agreements of June 30, 2003 wherein Axial Vector acquired all
rights, titles, assets and interest to Dyna-Cam Engine Corporation,
including related websites and domain names.
As part of the agreement, the preliminary injunction granted to
Axial Vector on November 17, 2005 will remain in place as a
permanent injunction by Order of the Federal District Court
docketed on June 13, 2006. The injunction permanently bars Palmer
and Wilks and others acting in concert with them from:
- displaying, controlling, and/ or operation of the website www.dynacam.com
or any other domain containing the words "dyna-cam", "dynacam",
"Dyna-Cam", or "Dynacam";
- exhibiting any display, product, and advertisement bearing the
mark Dyna-Cam, "Dyna-Cam Engine", or "Dyna-Cam Engine Corporation",
and
- making, using, selling, marketing, and offering for sale
certain products using the name(s) and mark(s) containing the
words "dyna-cam", "dynacam", "Dyna-Cam", or Dynacam.
Dr. Raymond Brouzes, President and CEO of Axial Vector Engine
Corporation stated, "We are pleased to resolve this matter and
remove any cloud over our ownership of the Dyna-Cam engine and its
progeny."
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