Treasury Wine Estates fights patent holder for “wine in a can”
Canned wine is becoming a big thing in Australia. Treasury Wine Estates, understandably, is capitalising on that trend – but it has an adversary. Barokes Wines, a much smaller company that holds the patent for canned wine, threatened to sue. Is Treasury Wine Estates worried? No. According to TWE, the technology is not very inventive, and shouldn’t be protected by intellectual property laws.
Treasury Wine Estates’ share price has risen by 7% over the past 30 days
SOURCE: Yahoo Finance
The “offending product” is Treasury’s A’Tivo wine – a "refreshing new Australian 'aperitif' that is created to be enjoyed over ice". It costs $8 AUD for a 250ml can.
Putting wine in cans relies on a “Vinsafe” technology that Barokes is saying Treasury shouldn’t be able to use. Treasury is looking for court orders to stop Barokes making threats about the patent infringement, and to force them to cover legal fees and damages. Why? Because Vinsafe is neither new, nor inventive.
A spokesperson said that Treasury is looking to invalidate Barokes’ Australian patents. She said: "Treasury Wine Estates asserts that its A'Tivo 'wine-in-a-can' products do not infringe any valid third-party intellectual property rights and rejects any assertions made in this regard. Treasury Wine Estates is confident in its position with respect to these proceedings and, as the matter is now before the courts, has no further comment at this stage."
Dominion holds Treasury Wine Estates in its Global Trends Luxury Fund.
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