SOURCE: OurPet's Company

OurPet's Company

September 08, 2016 09:35 ET

OurPet's Licenses Polymer Bonded Patent

FAIRPORT HARBOR, OH--(Marketwired - Sep 8, 2016) - OurPet's Company (OTCQX: OPCO), a leading proprietary pet supply company, today reported that it has licensed its Patent No. US 8,973,529 B1 to another licensee, a major stainless steel pet bowl manufacturer based in India. The patent was issued March 10, 2015 and OurPet's announced its licensing on June 9, 2016. Under the terms of the non-exclusive agreement, the new licensee will pay a royalty to OurPet's for each stainless steel bowl sold in the United States that has polymer materials applied to any portion of the bottom. OurPet's now has licensed the '529 patent to three pet bowl manufacturer/marketers and is currently negotiating with several others.

About OurPet's Company

The OurPet's Company (OTCQX: OPCO) designs, produces and markets a broad line of innovative, trend-setting pet products and accessories sold under the OurPets® and Pet Zone® brands domestically and internationally. OurPets® and Pet Zone® products are sold through leading pet specialty retailers, food, drug and mass merchandisers, direct-mail catalog and internet retailers. Since its founding in 1995, the OurPet's Company has been building an extensive intellectual property portfolio with more than 170 patents in either issued or pending status all devoted to solving problems related to the human/pet bond. OurPet's was named a Weatherhead Top 100 Fastest Growing Company in Northeast Ohio in 2013 and has been a Lake-Geauga County Fast Track 50 Hall of Fame local business success winner for the last eight consecutive years. In addition, the OurPet's Company was named 2015 Business of the Year by the Painesville Area Chamber of Commerce. Investors and customers may visit www.ourpets.com and www.petzonebrand.com for more information about the Company, its products and brands.

Certain of the matters set forth in this press release are forward-looking and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: business conditions growth in the industry; general economic conditions; addition or loss of significant customers; the loss of key personnel; product development; competition; risks of doing business abroad; foreign government regulations; fluctuations in foreign currency rates; rising costs for raw materials and sources of supply that may be limited or unavailable from time to time; the timing of orders booked; and the other risks that are described from time to time in OurPet's SEC reports.

Contact Information

  • CONTACT:
    OurPet's Company
    Dr. Steven Tsengas
    CEO
    (440) 354-6500 (Ext. 111)

    INVESTOR RELATIONS:
    DreamTeamNetwork
    Michael McCarthy
    (512) 758-8877