Fasteners, Inc. is an American company involved in manufacturing
magnetic accessory & products such as snaps, clasps, fasteners,
closures, etc. With its production and distribution centres located
in the U.S, Europe, and Asia, the company is known internationally
for its signature product – the magnetic fastening snap.
Fossil Group, Inc. ("Fossil, Inc.") is a global design,
marketing, distribution, and innovation company involved in
manufacturing distinctive watches and wearable accessories such as
leather goods, belts, handbags, sunglasses, etc. As part of one of
their business ventures, the companies entered into an agreement
wherein Romag's fasteners were to be used in Fossil's
leather goods. While both the companies were content with the
arrangement for an initial couple of years, it was eventually
discovered by Romag that several Fossil products made in China were
using counterfeit Romag fasteners. In an attempt to save its
business, Romag sued Fossil, along with
