For a while Thursday, Microsoft Corp.’s $5 million settlement of a lawsuit with Synet Inc., a defunct Downers Grove software company, appeared in jeopardy when Synet’s founder announced his opposition to it.
But in the end, U.S. Bankruptcy Judge Eugene Wedoff approved the deal anyway.
The settlement was reached Wednesday in the midst of a trial over Synet’s claim to hold trademark rights to the name of Internet Explorer, the name Microsoft uses for its browser software.
In announcing his opposition to the deal, Dhiren Rana, Synet’s founder, said he wanted the jury to determine the trademark’s value. The trustee of Synet’s bankruptcy had estimated its value at anywhere from $10 million to $100 million, he noted.
But Wedoff approved the settlement, saying he was satisfied the trustee had negotiated hard on Synet’s behalf and pointing out that a jury verdict could have been for far less than $5 million.
