In California, the Best Manufacturing Company of San Leandro and the Holt Manufacturing Company were competitors. In 1905, they resolved a patent infringement lawsuit when Daniel Best retired and gave one-third of Best Manufacturing Company to his son, Clarence Leo ("C. L.") Best. He sold the remaining two-thirds to Benjamin Holt for US$325,000 (roughly equivalent to $ today). C. L. Best was made plant manager of the new concern, but Holt retained effective control. C. L. did not stay long, and left in 1910 to form the C. L. Best Gas Traction Company to replace his father's firm, resulting in further difficulties between the two men. Holt registered "Caterpillar" as a trademark in 1911.
