TYSONS CORNER, Va.,
March 31, 2014 /PRNewswire/ --
Spherix Incorporated (SPEX) -- an intellectual
property development company committed to the fostering and
monetization of intellectual property, announced today a corporate
update disclosing the 101 patents and patent applications acquired
in December from Rockstar Consortium (US) LP. The list of
patents has been recorded at the U.S. Patent and Trademark Office.
Several are considered "Standard Essential Patents."
A Standard Essential Patent is often defined as a patent that
covers part or all of a technology standard set by a Standard
Setting Organization. In the case of Spherix's patents,
several have been asserted as Standard Essential to the Institute
of Electrical and Electronics Engineers ("IEEE") and relate to the
movement of data packets on a Virtual Local Area Network.
Courts have stated that patent holders who participated in the
development of a standard are often bound to offer licenses to
Standard Essential Patents on "fair, reasonable and
non-discriminatory (FRAND)" terms. However, courts have also
differed on the meaning of that requirement. Spherix is
prepared to honor all FRAND obligations that originally applied to
Nortel and any company that would like to discuss a FRAND license
is asked to contact Spherix's Vice President of Licensing,
Frank Reiner at
freiner@spherix.com.
Spherix is also offering licenses to startup companies as part
of Innovate21tm. Innovate21tm is an
initiative of Spherix that offers startup companies licenses to
Spherix patents in exchange for equity positions. Spherix
hopes that these very valuable patents can help spur innovation and
the development of more start up companies, as well as add value to
Spherix shareholders through early investment.
Since the Nortel patents were acquired by Spherix, the portfolio
has expanded. In February 2014,
Spherix was notified that patent application number 12/459,465
issued as patent RE44,775 "VLAN Frame Format." In addition,
Spherix recently received another "Notice of Allowance and Fees
Due" from the U.S. Patent and Trademark Office for another
application that will issue as a patent in the near future.
In addition, Spherix announces that its CEO has been named to
the IAM Strategy 300 – The World's Leading IP Strategists,
Intellectual Asset Management's (IAM) annual listing
of those individuals identified by IAM as offering operating
companies and other IP owners world-class advice on maximizing the
value of their intellectual property.
Anthony Hayes, CEO stated
"Spherix today is much stronger as a company than at anytime over
the last year. We have not only added tremendous assets and
staff to the company, but we have commenced several licensing
campaigns that we believe will act as a platform for continued
growth. As we continue to progress in our monetization
efforts, we have disclosed the Nortel assets we own to better help
the investment community understand our IP portfolio."
About Spherix
Spherix Incorporated was launched in
1967 as a scientific research company. Spherix is committed to
advancing innovation by active participation in the patent
market. Spherix draws on portfolios of pioneering technology
patents to partner with and support product innovation.
Forward Looking Statements
Certain statements in this
press release constitute "forward-looking statements" within the
meaning of the federal securities laws. Words such as "may,"
"might," "will," "should," "believe," "expect," "anticipate,"
"estimate," "continue," "predict," "forecast," "project," "plan,"
"intend" or similar expressions, or statements regarding intent,
belief, or current expectations, are forward-looking statements.
While the Company believes these forward-looking statements are
reasonable, undue reliance should not be placed on any such
forward-looking statements, which are based on information
available to us on the date of this release. These forward looking
statements are based upon current estimates and assumptions and are
subject to various risks and uncertainties, including without
limitation those set forth in the Company's filings with the
Securities and Exchange Commission (the "SEC"), not limited to Risk
Factors relating to its patent business contained therein,
including the Prospectus filed under Rule 424B3 filed February 19, 2014 with the SEC. Thus, actual
results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a
result of new information, future events or otherwise, except as
required by law.
Contact:
Investor Relations
Phone: (703)
992-9325
Email: info@spherix.com
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SOURCE Spherix Incorporated