NEW YORK (CNNfn) - Xerox Corp. said Thursday that it is suing Hewlett-Packard Co. (HP) over alleged use of Xerox technology in HP's line of ink-jet printers.
Xerox will seek a permanent injunction prohibiting HP from manufacturing and selling the printers in question, the company said in a statement.
"Our intellectual property is among our most valuable assets," said Xerox President and Chief Operating Officer Richard Thoman. "This lawsuit represents an intensified effort to protect our intellectual capital. This isn't the first time we've sued to protect this investment and it certainly won't be the last."
Xerox will seek unspecified damages from HP in the suit, the company said.
The suit, filed in Rochester, N.Y., centers on print cartridges used in HP color printers. According to Xerox, these cartridges make use of proprietary Xerox technology.
"When we find unauthorized use of our patented technology, we have to move accordingly to protect our shareholders' investment," said Thoman. "We just will not let others misappropriate our intellectual property."
HP was not immediately available for comment.
HP stock (HWP) was down 10-1/16 at 71-9/16 in late morning trading Thursday. The drop was due largely to unrelated factors, notably an overnight warning from the company that earnings in the current quarter would be lower than expected.
Xerox stock (XRX) was down 5/16 at 108-15/16.