Network-1 Receives New Patent from U.S. Patent Office
September 13 2018 - 4:40PM
Expands Its Cox Portfolio to 27 Patents on
Content Identification
Network-1 Technologies, Inc. (NYSE AMERICAN: NTIP), a company
engaged in the development, licensing and protection of
intellectual property, announced today that the U.S. Patent and
Trademark Office issued U.S. Patent No. 10,073,862 (“Methods for
Using Extracted Features to Perform an Action Associated with
Selected Identified Image”). The claims of the newly issued ‘862
patent are generally directed towards methods of content extraction
and identification, including performance of actions following
therefrom.
The newly issued ‘862 patent arises from a
patent application contained in the patent portfolio acquired by
Network-1 from Professor Ingemar Cox in 2013 (the “Cox Patent
Portfolio”). 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 including, among others, the insertion of
advertisements and the facilitation of the purchase of goods and
services relating to the media content. Since the acquisition of
the Cox Patent Portfolio, Network-1 has filed twenty-eight (28)
additional patent applications, twenty-three (23) of which have
been issued bringing the total Cox Patent Portfolio of granted
patents to twenty-seven (27). Six (6) applications relating to the
original specification are still pending and Network-1 anticipates
further issuances of additional claims for its Cox Patent
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 sixty (60)
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 three patent portfolios (the Cox, Mirror Worlds and
M2M/IoT Patent Portfolios). 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
and Mirror Worlds Patent Portfolio. Network-1’s Remote Power Patent
has generated licensing revenue in excess of $141,000,000 from May
2007 through June 30, 2018. Network-1 has achieved licensing and
other revenue of $47,150,000 through June 30, 2018 with respect to
its Mirror Worlds Patent Portfolio.
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, 2017 filed with the Securities
and Exchange Commission, including, among others, the continued
material adverse effect on Network-1’s business, results of
operation and cash-flow if the HP Jury Verdict finding of
non-infringement is not reversed by the Federal Circuit Court of
Appeals, the risk that Network-1 will not continue to receive
material royalty revenue from licensees of its Remote Power Patent,
the uncertainty of Network-1’s revenue stream, 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 its Cox
Patent Portfolio, its M2M/IoT Patent Portfolio and additional
revenue and profit from its Mirror Worlds Patent Portfolio as well
as intellectual property it may acquire in the future, the ability
of Network-1 to enter into additional license agreements,
uncertainty as to whether cash dividends will continue be paid, 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, 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
Network 1 Technologies (AMEX:NTIP)
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