The Calgary Parking Authority has reached an out of court settlement with two former executives over the patent rights for the city's ParkPlus system, which started operating in 2007.

The U.S. patents were registered in the names of former general manager Dale Fraser and assistant manager Al Bazar, who were fired during a management shuffle 2011.

hi-park-plus-852-3col

The Calgary Parking Authority has settled a lawsuit over the patent for the ParkPlus system. (CBC)

In the United States, patents must be registered under a person's name.

The city launched a $42-million lawsuit against the former employees, who countered with a $105-million claim for damages.

In the settlement, the two men acknowledge the city is the rightful and exclusive owner of ParkPlus, they agree the city will pay them no money and all court actions will cease without any costs being awarded.

This clears the way for the city and CPA to proceed with marketing the system to other municipalities.

In a written statement, the parking authority says it will start that work by August and CPA expects to earn a return on the money the city invested in developing ParkPlus.

The city will have to pay $750,000 in legal costs, and have no plans to go after Fraser or Bazar for those expenses.

"We are very pleased to confirm that the ParkPlus dispute has been settled. The terms of the settlement are confidential other than what has already been disclosed," said their lawyer Loudon Owen.