Apr 27th, 2017
PING buys up Nike Golf patents
As Nike golf club exit fall out continues
Words: John Dean
Ping's parent company Karsten Manufacturing Corp. has recently purchased at least five patents from Nike, which relate to golf club technology.
In a statement to the Phoenix Business Journal, Ping President John K. Solheim said: "We see this as an opportunity to add utility patents to our already significant intellectual property portfolio. Our team can use these patents, along with our existing intellectual property, to our competitive advantage, accelerating our ability to further technology that ultimately leads to higher performing, score–lowering golf equipment."
Terms of the patent sales weren't disclosed. A PING spokesman said the company has purchased additional Nike golf equipment patents, but those sales are not yet reflected in patent records.
The U.S. Patent and Trademark Office lists 1,237 Nike patents related to golf. Some are footwear and apparel patents that Nike would likely seek to retain.
"As a part of our exit from the golf equipment business we have sold certain patent assets that were developed in connection with the innovations created as a part of Nike’s golf club and ball business," Nike said, in a statement. "We are proud of the innovations created by the Nike Golf team and are happy that consumers will still be able to benefit from those patented innovations."