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UPDATE 1-Monsanto settles patent dispute with U.S. co-op

Tue Sep 2, 2008 2:13pm EDT

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KANSAS CITY, Mo., Sept 2 (Reuters) - U.S. agricultural chemical and crop technology giant Monsanto Co (MON.N) said on Tuesday it had settled a patent infringement dispute involving its "Roundup Ready" seed technology.

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The dispute was one of many involving Monsanto and use of seeds that have been genetically modified to resist Monsanto's popular Roundup Ready herbicide.

Without releasing details, Pilot Grove Cooperative Elevator Inc, a Missouri grain elevator with about $15 million in annual sales, acknowledged violating Monsanto's patented Roundup Ready seed technology and agreed to take series of measures that include employee training, funding college scholarships and adopting a policy aimed at avoiding future patent infringement.

Monsanto said it has filed suit against farmers for seed patent infringement about 125 times and all but eight were successfully settled without going to trial. Monsanto said it won the remaining eight cases. (Reporting by Carey Gillam; Editing by Steve Orlofsky)

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