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Schneider settles in China for $23 million

Peter Ollier, Hong Kong

French electronics company Schneider is to pay Rmb157.5 million ($23 million) to Chinese rival Chint Group to end a controversial patent fight

The record settlement is about half the Rmb330 million ($48 million) that the Wenzhou Intermediate People’s Court awarded to Chint in September 2007, in what is still the largest award for IP infringement ever made by a Chinese court.

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