Arbitration Decision Confirms Torvec's Exclusive Ownership of Patents
29 April 1999
Arbitration Decision Confirms Torvec's Exclusive Ownership of PatentsROCHESTER, N.Y., April 28 -- Torvec, Inc. (OTC Bulletin Board: TOVC) today announced that a non-appealable decision was made in an arbitration concerning the ownership of three patents relating to future company products, namely the Torvec hydraulic pump and motor, the Torvec constant-velocity joint, and Torvec's spherical gearing. The decision clarifies Vernon and Keith Gleasman's exclusive ownership right in all three of these patents, thereby confirming that these patents, which were assigned to Torvec Inc. by Vernon and Keith Gleasman, are the exclusive property of Torvec, Inc. Torvec, Inc., based in Rochester, New York, is a developer of highly advanced automotive technologies and the FTV(TM) fast-tracked vehicle. Torvec's financial statements are filed at http://www.sec.gov