FLORHAM PARK, N.J. (AP) -- Chemical companies BASF and DuPont on Wednesday said they are putting to rest dueling patent lawsuits.
In June 2009 the two companies filed suit against each other, claiming the other infringed on patents related to seed traits that give plants tolerance to certain herbicides.
The science has become more important to farmers in recent years; a plant that can resist herbicide can grow stronger and faster while the herbicide kills resource-draining weeds.
Last year, as the recession slashed demand for traditional chemicals, profits from agriculture products propped up the industry.
That's because while consumers can stop buying goods made from chemicals -- like cars, new clothes and paint -- they continue to buy food. That puts the onus on companies like BASF and DuPont to find ways to boost crop production and limit interference from bugs, drought and pesticides.
On Wednesday Germany's BASF and DuPont, based in Wilmington, Del., said they will cross-license patents and dismiss claims and counterclaims against each other.
Terms of the agreement were not disclosed.
DuPont shares rose 35 cents to $34.35 in midday trading.
Copyright 2010 The AP.