Cargill based in Minneapolis, Minn., TSI Group Ltd., a Hong Kong registered company headquartered in Shanghai, China, and TSI USA Inc. based in Missoula, Mont., have jointly announced they have amended their current settlement agreement for Cargill’s patented technology for producing non-shellfish (vegan) glucosamine.
While TSI Group Ltd. does not acknowledge any liability to Cargill, TSI Group Ltd. has licensed Cargill’s U.S. patents No. 7,049,433 (the ’433 Patent), No. 7,816,314 (the ‘514 patent), and No. 8,034,925 (the ‘925 Patent) and agreed that the patents are valid and enforceable. The new amended agreement also includes the exclusive licensing of the Cargill patent in China, (China Patent No. CN 2002806321.X (the China ‘321 patent) to TSI Group Ltd.
“The amended license agreement will permit TSI Group Ltd. to import and sell agreed quantities of non-shellfish glucosamine in the U.S. and Canada, subject to other terms and conditions of the agreements,” said Joe Zhou, TSI Group Ltd. co-founding partner and CEO.
According to Zhou, outside the U.S. and Canada, TSI Group Ltd. has the right to sell non-shellfish glucosamine without time or volume limitations with the exception of Cargill’s Brazilian patent application, to which all parties have reserved their rights. Other terms of the parties’ agreements remain confidential.
“The amended licensing agreement will provide both companies the opportunity to grow and support the vegetarian glucosamine market on a global basis,” said Zhou.
“It also provides the basis for acknowledging and supporting Cargill’s intellectual property,” Zhou added.
TSI Group Ltd. is a Hong Kong registered global researcher, developer and manufacturer of ingredients and finished products with offices in the U.S., EU, Australia, Japan, and China. The North American division is based in Missoula, Mont.
Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately-held company employs 140,000 people in 65 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to applying its global knowledge and experience to help meet economic, environmental and social challenges wherever it conducts business.
For more information about TSI and Cargill collaboration contact Larry Kolb, president of TSI USA at 406.549.9123 or via email at [email protected]