The Massachusetts Institute of Technology will receive $13 million in an out-of-court settlement of a patent-infringement suit, an M.I.T. spokesman announced yesterday.
He said that the International Busines Machine Corporation agreed last Friday to pay that amount as royalties for the use of a ferrite memory-core unit in high-speed computers. The settlement is the largest that M.I.T. has ever received.
Most of the money will be used for educational purposes, but part of it will go to Jay W. Forrester, professor of Industrial Management, who invented the memory unit and assigned the patent began in 1956, when it was developed.
A parallel suit against the Radio Corporation of America was also settled last week, but for a substantially smaller amount.
Read more in News
Labor Leader Calls on Unions To Alter 'Hostile' NegotiatingRecommended Articles
-
Leaders to Confer On South AmericaIndustrial leaders from all over the United States will meet next September at the Busines School for its first executives'
-
University, Merrill Lynch SettleThe University settled its $135 million civil suit against Merrill Lynch Thursday, Vice President and General Counsel Daniel Steiner '54
-
Tentative Accord Reached In Teacher Layoff SuitMayor Alfred E. Vellucci announced yesterday that the Cambridge School Committee and the Cambridge Teachers' Association have reached a tentative
-
Special Notice.DANCING CLASS.- Mrs. L. J. Chandler's Dancing Class, Tuesday, at 8 p. m. Odd Fellows' Hall, Cambridgeport. Private lessons. 1y
-
No HeadlineHow would the fresh freshman like it if he, entering a public building, filled with a large number of people,
-
BUREAU OF BUSINESS RESEARCH INVALUABLEThe fact that many prominent business men from all over the country have been sufficiently interested to give access to
