Koroyd, Smith, and Burton Reach Settlement Agreement

KOROYD SARL, Smith Sport Optics, Inc., and The Burton Corporation announce that they have reached a settlement to resolve patent disputes in Europe and North America. They have entered into patent license agreements. The agreements provide, among other terms, that Burton will have the exclusive worldwide rights to market Wavecel™ and sell impact-absorbing inserts in snowsports helmets.
As part of the agreements, KOROYD has granted Burton a license to continue selling redesigned helmets incorporating WaveCel™ impact-absorbing technology. Under the settlement terms,
WaveCel™ technology is now restricted to use solely by Burton in those licensed, redesigned snow sports helmets, and may not be offered, supplied, or integrated with any other brands or
partners in the snow sports helmet market.

Burton is the only company to whom KOROYD will be licensing its patents for use with WaveCel™ in the snow sports helmets market. KOROYD does not intend to issue any other licenses for use of
WaveCel™ in the snow sports helmet market.

“KOROYD is committed to protecting our innovations and our brand partners,” said John Lloyd, Founder and CEO of KOROYD. “Our team of world-class engineers is focused on advancing protective solutions that are designed to improve safety and elevate the user experience. At KOROYD, we work to ensure that our long-standing partners benefit from a clearly differentiated
scientifically validated platform of protection – one that is designed for performance, backed by data and built for peace of mind. And we will not hesitate to defend our intellectual property to
ensure a fair and innovative marketplace.”
KOROYD is a global leader in engineered protection. With 97 granted patents and a portfolio of cutting-edge technologies, KOROYD continues to pioneer safer, smarter and more sustainable
products across the sports, motorsport, industrial, family and defence sectors.

About KOROYD

KOROYD is dedicated to engineering a safer tomorrow. Its tireless pursuit of smarter, safer and more sustainable protective solutions underpins its 97 granted patents and award-winning innovations. From its original, transformative impact absorption technology to the leading-edge safety solutions under development in its state-of-the-art laboratory, KOROYD offers scientifically researched, rigorously tested and user validated integrations to brand partners, with optional full-scope design and development consultancy.
Since our incorporation 15 years ago, we have achieved continuous growth year after year, reinforcing our position as the leader in impact protection. KOROYD is engineered for advanced protection and designed for peace of mind.