CALGARY- The city has avoided a date in court, after reaching a settlement over who owns the rights to the ParkPlus System.
Last fall, the city sued former Calgary Parking Authority (CPA) executives Dale Fraser and Al Bazar for $42 million. The men were fired without cause in May 2011. They claim they are the rightful owners of the ParkPlus technology, and declined the city’s offer of $50,000 each if they would disavow claims of ownership.
Get daily National news
Bazar and Fraser countersued, asking for $105 million in damages.
On Tuesday, The Calgary Parking Authority announced that both parties had reached a confidential settlement agreement, but will disclose the following information:
– Bazar and Fraser acknowledged the City of Calgary and the CPA are the exclusive owner of the ParkPlus System
– The CPA and the City of Calgary did not make any payments to Bazar or Fraser
– All claims and counterclaims in the lawsuits will be discontinued
The city and CPA say they are now planning to commercialize the ParkPlus System. Money raised from patent rights will help offset the CPA’s investment in the system.
With files from The Calgary Herald
Comments