CARLSBAD, Calif., July 28, 2014 /PRNewswire/ -- Patriot
Scientific Corporation (OTCBB: PTSC) today announced that
Phoenix Digital Solutions (PDS), Patriot's joint venture that
aggregates the ownership interests in the Moore Microprocessor
Patent (MMP) PortfolioTM, has entered into an agreement
with Alliacense, LLC. The agreement settles all outstanding
disputes between PDS and Alliacense and provides for the addition
of a second company to complement Alliacense in securing licenses
to the MMP Portfolio.
"We are extremely satisfied with the terms of the agreement
which establishes important performance goals and incentives for
Alliacense, while increasing our reach and opportunities for
success by providing for the retention of a second licensing
agent," stated Carlton Johnson,
Patriot Board member and its appointee to the PDS Management
Committee.
In June Patriot announced that PDS reaffirmed representation by
Agility IP Law, LLP in pursuit of MMP Portfolio infringers.
"We believe the developments from today's announcement are well
suited to augment and further leverage the services of
Agility. With the recent addition of Arocklyaswamy (Swamy)
Venkidu as my new counterpart on the PDS Management Committee, I'm
looking forward to a renewed and productive working relationship at
PDS," added Mr. Johnson.
About Patriot Scientific Corporation
Headquartered in Carlsbad,
California, Patriot Scientific Corporation is the co-owner
of the Moore Microprocessor Patent Portfolio™. For more information
on PTSC, visit www.ptsc.com.
About the MMP Portfolio™
The MMP Portfolio includes US patents as well as their European
and Japanese counterparts, which cover techniques that enable
higher performance and lower cost designs essential to consumer and
commercial digital systems ranging from PCs, cell phones and
portable music players to communications infrastructure, medical
equipment and automobiles.
About Agility IP Law, LLP
Based in Menlo Park,
California, Agility's attorneys specialize in intellectual
property litigation, and have tried patent infringement and other
IP enforcement actions in a broad range of industries, including
semiconductors, software, consumer electronics, medical devices,
telecommunications, nutritional supplements and footwear, to name a
few. Agility represents IP owners, as well as those accused
of infringement. Agility's expertise facilitates efficient
and effective case management from pre-filing analysis through
trial and appeal. Agility's trial attorneys are experts at
distilling complex technical concepts for judges and juries.
In addition to Agility's substantial trial experience in U.S.
district courts and the U.S. International Trade Commission, the
Agility team is well-versed in the many forms of alternative
dispute resolution, including the mediation and arbitration of
intellectual property disputes. For more information, visit
Agility's website at www.agilityiplaw.com.
Safe Harbor Statement: Statements herein which are not purely
historical, including statements regarding Patriot Scientific
Corporation's intentions, hopes, beliefs, expectations,
representations, projections, plans or predictions of the future
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements involve risks and uncertainties including, but not
limited to, the risk that the recently filed actions and litigation
strategy may not be successful and the risks and uncertainties
relating to the future of our MMP joint-venture. It is
important to note that the company's actual results could differ
materially from those in any such forward-looking statements.
Factors that could cause actual results to differ materially
include, but are not limited to, risks and uncertainties associated
with the effect of changing economic conditions, trends in the
products markets, variations in the company's cash flow, market
acceptance risks, patent litigation, technical development risks,
and seasonality. Our business could be affected by a number
of other factors, including the risk factors listed from time to
time in the company's SEC reports including, but not limited to,
the annual report on Form 10-K for the year ended May 31, 2013 and the quarterly report on Form
10-Q for the period ended February 28,
2014. The company cautions investors not to place undue
reliance on the forward-looking statements contained herein.
Patriot Scientific Corporation disclaims any obligation, and does
not undertake to update or revise any forward-looking statements
made herein.
Contact:
Patriot Investor Relations
ir@ptsc.com
760-547-2700 x-102
SOURCE Patriot Scientific Corporation