CrossFit Inc. and Reebok settle licensing dispute

CrossFit Inc. and Reebok International Ltd. have agreed to a settlement three months after CrossFit filed a lawsuit against the sportswear brand, which is a subsidiary of Adidas. The two companies signed a licensing agreement back in 2010, which made Reebok the official sponsor of the CrossFit Games and allowed it to launch products bearing the name “CrossFit”. However, back in March CrossFit Inc. claimed that Reebok failed to pay all the royalties it was supposed to, neither did it spend the 521.75 million US dollars in advertising stipulated by their contract.