CHICAGO, June 2, 2011 /PRNewswire/ -- ICAP Patent Brokerage, a division of ICAP plc and the world's largest intellectual property brokerage and patent auction firm, announces for auction the first ever Covenant Not to Sue (CNS) offered by H-W Technology L.C. related to their US Patent 7,525,955, "Internet Protocol (IP) Phone with Search and Advertising Capability." The patent, which relates to mobile application stores and e-commerce apps and services, has a priority date of March 19, 2004 and is alleged to be infringed by, among others, Apple, Research in Motion, Amazon.com, HTC Corporation, LG Electronics, eBay, Hotels.com, Google, Expedia, Priceline.com, Orbitz, Buy.com, Motorola, Samsung, Kayak Software Corp., Microsoft, Nokia, Sony Ericsson, Kyocera and Verizon. Bids will be accepted starting today.
The CNS is designed to effect a dismissal of H-W Technology's current litigation pending in the Northern District of Texas (H-W Technology L.C. v. Apple, Inc, et al., Civil Action No. 3:11-cv-00651-N, ND. Tex), which is currently in pre-discovery stage. A CNS is an agreement drafted by a patent holder that comprises a promise not to sue the counterparty for infringement of some or all of the patent holder's patents, and has been recognized by the courts to be a license equivalent under certain circumstances. By allowing a litigation defendant to purchase a CNS anonymously through ICAP's auction process, ICAP provides defendants a unique opportunity to quickly and efficiently eliminate the uncertainty inherent in litigation without compromising their defense strategy in the event of an unsuccessful bid.
The '955 Patent is directed to novel, unique and non-obvious systems and methods of using multi-convergence devices, including phones commonly referred to as "smartphones", which are able to converge voice and data within a single terminal, and which allow users of such devices via domain specific applications to receive information and offers from merchants and to complete a transaction with a merchant without having to generate a voice call. The '955 Patent is applicable to numerous mobile technologies, including mobile application stores and other mobile e-commerce applications and services. As such, any company employing these technologies in its product offering would be benefited by acquiring a CNS on the '955 Patent.
A limited number of covenants from H-W Technology covering the '955 Patent will be auctioned by ICAP Patent Brokerage, and bids are currently being accepted.
About ICAP Patent Brokerage
ICAP Patent Brokerage, a division of ICAP plc and the world's largest intellectual property brokerage and patent auction firm.
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.
SOURCE ICAP Patent Brokerage