Sneaker Showdown - Nike Targets New Balance And Skechers In Patent Suit: Report
Portfolio Pulse from Shivani Kumaresan
Nike Inc has reportedly launched legal challenges against New Balance and Skechers U.S.A., Inc, alleging that they have encroached upon patented sneaker technology. Nike's 'Flyknit' technology, a method of constructing the upper parts of athletic shoes, is claimed to have been used by New Balance's athletic footwear from Fresh Foam, FuelCell and other lines, alongside Skechers' Ultra Flex and Glide Step brands. Nike has demanded financial reparations for the alleged patent breaches and has urged the courts to enforce a permanent injunction to prevent further infringement.
November 07, 2023 | 10:23 am
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POSITIVE IMPACT
Nike's legal action against New Balance and Skechers could potentially lead to financial reparations and a permanent injunction against further infringement, which could strengthen Nike's competitive position.
If Nike wins the lawsuit, it could receive financial reparations and prevent New Balance and Skechers from using the patented technology, which could strengthen Nike's competitive position and potentially boost its stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Skechers is facing a lawsuit from Nike for alleged patent infringement, which could potentially lead to financial reparations and a permanent injunction against further infringement.
If Skechers loses the lawsuit, it could face financial losses due to reparations and restrictions on using the patented technology, which could negatively impact its competitive position and potentially lower its stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100