NEW YORK, Oct. 19, 2016
/PRNewswire/ -- Network-1 Technologies, Inc. (NYSE MKT: NTIP)
today announced that the Patent Trial and Appeal Board ("PTAB") of
the United States Patent and Trademark Office ("USPTO") issued its
Final Written Decision in the pending Covered Business
Method Patent Review proceeding ("CBM") relating to a challenge
made by Google, Inc. ("Google") and YouTube, LLC ("YouTube") to the
patentability of one of the patents of Network-1's Cox Patent
Portfolio.
In the Final Written Decision, the PTAB ruled that Google had
failed to show that any of the thirty-four (34) claims of U.S.
Patent 8,904,464 were unpatentable. In April
2015, Google and YouTube petitioned the USPTO to cancel as
unpatentable the claims of the patent which is one of 12 issued
patents of Network-1's Cox Patent Portfolio. In
October 2015, the PTAB agreed to
review all of the claims. A hearing on the merits of the CBM
proceeding was held in May 2016.
"We are extremely pleased with today's PTAB decision," said
Corey M. Horowitz, Chairman and CEO
of Network-1. "We have worked very hard with Professor
Ingemar Cox to develop and protect
the value of his inventions and we will continue to do so," he
added.
As previously announced, in June
2016, the PTAB issued its Final Written Decisions in four
Inter Partes Review proceedings ("IPRs") relating to
challenges made by Google, Inc. ("Google") and YouTube, LLC
("YouTube") to the patentability of four other patents from
Network-1's Cox Patent Portfolio. As a result of the PTAB's
latest Final Written Decisions in the CBM proceeding and the four
prior IPRs, one-hundred twenty (120) claims have been found to be
"not unpatentable" (i.e. valid), and in total, one hundred and
fifty-three (153) out of one hundred and sixty-three (163) claims
or ninety-three percent (93%) of the challenged claims of the
patents have survived Google's patent challenges in the IPRs and
the CBM. None of Network-1's asserted claims from the patents in
its pending litigations against Google and YouTube in the United
States District Court for the Southern District of New York were found invalid.
In April 2014 and December 2014, Network-1 initiated litigation
against Google and YouTube in the United States District Court for
the Southern District of New York
for infringement of several of its patents within the Cox Patent
Portfolio acquired from Dr. Ingemar
Cox which relate to the identification of media content on
the Internet. The lawsuits allege that Google and YouTube
have infringed and continue to infringe certain of the Network-1's
patents by making, using, selling and offering to sell unlicensed
systems and related products and services, which include YouTube's
Content ID system. The above referenced litigations are
currently subject to a stay which has been in effect since
July 2015 as a result of the then
pending IPRs and CBM proceedings at the PTAB.
The Cox Patent Portfolio includes patents relating to enabling
technology for identifying media content, such as music and videos,
and taking further actions to be performed based on such
identification. Since the acquisition of the portfolio,
Network-1 has filed twelve (12) additional patent applications
(seven (7) of which have been issued) bringing the total portfolio
of granted patents to twelve (12). Five (5) applications
relating to the original specification are still pending and
Network-1 anticipates further issuances of additional claims for
this portfolio.
Dr. Ingemar Cox is currently a
Professor at the University of
Copenhagen and a Professor at the University College London
where he is Head of its Media Futures Group. Dr. Cox was
formerly a member of the Technical Staff at AT&T Bell Labs and
a Fellow at NEC Research Institute. In connection with the
acquisition of the Portfolio, Dr. Cox provides consulting services
to Network-1 with respect to the acquired patents and the related
pending and future patent applications and assists in Network-1's
efforts to develop the
portfolio.
ABOUT NETWORK-1 TECHNOLOGIES, INC.
Network-1 Technologies, Inc. is engaged in the development,
licensing and protection of its intellectual property and
proprietary technologies. Network-1 works with inventors and
patent owners to assist in the development and monetization of
their patented technologies. Network-1 currently owns twenty-two
(22) patents covering various telecommunications and data
networking technologies as well as technologies relating to
document stream operating systems and the identification of media
content. Network-1's current strategy includes continuing to
pursue licensing opportunities for its Remote Power Patent and its
efforts to monetize two patent portfolios (the Cox and Mirror
Worlds patent portfolios) acquired by Network-1 in 2013.
Network-1's acquisition strategy is to focus on acquiring high
quality patents which management believes have the potential to
generate significant licensing opportunities as Network-1 has
achieved with respect to its Remote Power Patent. Network-1's
Remote Power Patent has generated licensing revenue in excess of
$90 million from May 2007 through June 30,
2016.
This release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements address future
events and conditions concerning Network-1's business plans. Such
statements are subject to a number of risk factors and
uncertainties as disclosed in the Network-1's Annual Report on Form
10-K for the year ended December 31,
2015 filed with the Securities and Exchange Commission,
including, among others, the continued validity of Network-1's
Remote Power Patent, the ability of Network-1 to successfully
execute its strategy to acquire high quality patents with
significant licensing opportunities, Network-1's ability to achieve
revenue and profits from the Mirror Worlds Patent Portfolio and the
Cox Patent Portfolio as well as intellectual property it may
acquire in the future, the ability of Network-1 to enter into
additional license agreements, the ability of Network-1 to continue
to receive material royalties from its existing license agreements
for its Remote Power Patent, the uncertainty of patent litigation
and proceedings at the United States Patent and Trademark Office,
the difficulty in Network-1 verifying royalty amounts owed to it by
its licensees, Network-1's ability to enter into strategic
relationships with third parties to license or otherwise monetize
their intellectual property, the risk in the future of Network-1
being classified as a Personal Holding Company, the continued
viability of the PoE market, future economic conditions and
technology changes and legislative, regulatory and competitive
developments. Except as otherwise required to be disclosed in
periodic reports, Network-1 expressly disclaims any future
obligation or undertaking to update or revise any forward-looking
statement contained herein.
Corey M. Horowitz,
Chairman and CEO
|
Network-1
Technologies, Inc.
|
(212)
829-5770
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SOURCE Network-1 Technologies, Inc.