MOSAID to Sell 'Covenant Not to Sue' on Cellular Handset Patents at ICAP Patent Brokerage Auction
CHICAGO, Aug. 9, 2011 /PRNewswire/ -- ICAP Patent Brokerage, a division of ICAP plc and the world's largest intellectual property and patent auction firm today announced that it will offer a Covenant Not to Sue (CNS) from MOSAID Technologies (TSX: MSD) at an upcoming sealed-bid auction September 27, 2011. The CNS covers U.S. patents 5,650,770, 6,198,390, 6,518,889 and 5,963,130, which are essential to all cellular telephones which implement the Federal Communications Commission's E-911 emergency call standard.
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A CNS is an agreement that prevents assertion of a party's right to litigation. A company entering into a CNS with respect to these MOSAID patents would gain the freedom to operate under them, and would avoid the uncertainly inherent in patent infringement litigation.
MOSAID announced on July 7, 2011 that it is suing HTC America, Inc. and Sony Ericsson Mobile Communications (USA), Inc. for infringing these patents, which MOSAID acquired in early 2011. While the patents have already been litigated and licensed to some companies, MOSAID believes that a number of companies that offer cellphones require a license to these patents.
The cellular phones that infringe the four patents include navigational receivers, radio transmitters, switches, circuits, sensors and other electronic elements that enable cell phones to provide emergency call features, such as transmitting the phone's geographic location when a 911 call is made, and the ability to make an emergency call using a voice command.
Starting today, ICAP Patent Brokerage will accept anonymous bids on the MOSAID CNS. To learn more about the assets available or to place a bid, contact Kevin Fiur at [email protected].
About MOSAID
MOSAID Technologies Inc. is one of the world's leading intellectual property companies. MOSAID licenses patented intellectual property in the areas of semiconductors and communications systems, and develops semiconductor memory technology. MOSAID counts many of the world's largest technology companies among its licensees. Founded in 1975, MOSAID has offices in Ottawa, Ontario and Plano, Texas. For more information, please visit www.mosaid.com and http://investorchannel.mosaid.com
About ICAP & ICAP Patent Brokerage
ICAP is the world's premier interdealer broker and provider of post-trade services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets, equities and equity derivatives through voice and electronic networks. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information, go to www.icap.com.
ICAP Patent Brokerage is a division of ICAP plc and the world's largest intellectual property brokerage and patent auction firm.
Forward Looking Information
This document and certain other public documents incorporated by reference in this document, contain forward-looking statements to the extent they relate to MOSAID or its management, including those identified by the expressions "anticipate," "believe," "could," "estimate," "expect," "foresee," "intend," "may," "plan," "will," "would" and similar expressions. Similarly, statements in this document that describe MOSAID's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. These forward-looking statements are not historical facts, but rather reflect MOSAID's current expectations regarding future events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results, performance or achievements to differ materially from those in such forward-looking statements. Assumptions made in preparing forward-looking statements and financial guidance include, but are not limited to, the following: MOSAID's continued expansion of its patent portfolio and of its opportunities for future patent licensing revenue as a result of MOSAID's acquisition of patents from third parties and from development of new inventions; semiconductor and telecommunications product vendors continuing to infringe MOSAID's patents; the timing and amount of MOSAID's litigation expenses; MOSAID's ability to sign new patent licensees; current assumptions as to the identification of products that are unlicensed to MOSAID's wireless patents; and the timing and amount of MOSAID's Research & Development expenses.
Factors that could cause actual results to differ materially from expected results include, but are not limited to, the following: MOSAID's ability to negotiate settlements with licensees; legal rulings and/or regulatory investigations, audits or complaints having an adverse impact on the validity, enforceability, royalty rates, potential royalty rates, and strength or breadth of coverage of MOSAID's essential and/or nonessential patents (including, but not limited to, adverse results from litigation or proceedings in patent offices and government regulatory agencies in various countries around the world); judicial, legislative or regulatory changes that impair the ability of patent holders to earn licensing revenues; worldwide economic conditions and demand for technology products; economic, social, and political conditions both globally and in the countries in which MOSAID or patent licensees operate, including conflict, war and, other security risks, health conditions, possible disruptions in transportation networks and fluctuations in foreign currency exchange rates; non-payment or delays in payment by or insolvency of licensees or other debtors; variability in patent licensees' sales of licensed products; failure to maintain and enforce MOSAID's existing patent portfolio, or failure to obtain valuable patents as a result of R&D activities, or failure to acquire valuable patents from third parties; MOSAID's ability to recruit and retain skilled personnel; change in MOSAID's financial position; consolidation of MOSAID's licensees; natural events, such as severe weather and earthquakes in the locations in which MOSAID or patent licensees operate; and changes in the tax rate applicable to MOSAID as the result of changes in the tax law in the jurisdictions in which profits are determined to be earned and taxed, the outcome of tax audits and the ability to realize deferred tax assets.
Except as may be required by applicable law or stock exchange regulation, we undertake no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. Accordingly, readers should not place undue reliance on forward-looking statements. If we do update one or more forward-looking statements, no inference should be drawn that additional updates will be made with respect to those or other forward-looking statements. Additional information identifying risks and uncertainties affecting MOSAID's business and other factors that could cause MOSAID's financial results to fluctuate are contained in MOSAID's Annual Information Form, under the section entitled "Risk Factors," and in MOSAID's other public filings available online at www.sedar.com.
SOURCE ICAP Patent Brokerage
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