Following a June 2015 jury verdict, SilverFox Innovations settled a civil trade-secret trial for $1.1 million and a 10-year permanent injunction.
Four former employees of Chromatic Technologies Inc. were accused of stealing trade secrets from CTI to form another company, SilverFox. CTI took them to court and a jury found in favor of the company.
“CTI is happy with the jury verdict and the settlement payment. We have extensive intellectual property and trade secrets, and will aggressively defend them,” said CTI Founder Lyle Small in a press release. “We were shocked and disappointed that four former employees chose to take company secrets and use them against us. The potential consequences of a damages trial could have been devastating for the defendants. We decided that allowing the SilverFox principals this settlement was a reasonable gesture to let everyone get on with their lives.”
Rob Ugianskis, Eric Cathie, Jake Melcher and John Davis are prohibited by court order from serving in any sales or technical support capacity for thermocromic, metal-decorating ink products.
CTI is a Colorado Springs-based company that uses chemistry to create inks that react to heat and cold, as well as light and pressure. The company currently exports to 52 different countries and holds several patents for thermocromic inks for metal decoration. It’s most known in Colorado for the color-changing cans made for Coors, which indicate when the beer is cold enough to drink.
For more about CTI, click here.