Associated Press
09-04-07
Monsanto, Iowa State Resolve Dispute
Associated Press
AMES, Iowa - Officials from Monsanto and the Iowa State University Research
Foundation announced on Tuesday that they had resolved a patent dispute
involving a low-acid soybean.
A lawsuit filed against St. Louis-based Monsanto (nyse: MON - news - people )
claimed the company began a soybean program of its own that was based on a
low-acid bean invented at Iowa State without seeking "license or authority" from
the University.
According to the lawsuit, the university licenses its technology to others and two
Iowa State research foundation professors, Walter Fehr and Earl
Hammond, have been awarded several U.S. patents related to soybeans with
low linolenic acid.
Monsanto began marketing the soybeans after the patents were issued.
The agreement announced Tuesday will give Monsanto a commercial license for
current and future low linolenic acid product lines developed by Iowa State
University. The university will receive a research license for the use of
Monsanto's Roundup RReady2Yield soybeans.
Additional terms of the agreement were not disclosed.
Soybeans with low linolenic acid content make it possible to produce soybean oil
that has no trans fat.
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