Patent Infringement | "VirnetX, NEC and NEC Corp. of America Sign Patent License Deal"

By : Solid State Technology
Source : http://www.electroiq.com
Category : Patent Infringement

VirnetX Holding Corp. and NEC Corp. and NEC Corp. of America announced that on August 2, they signed a Patent License Agreement.

According to a release, under the terms of the Agreement, VirnetX has agreed to license certain of its patents to NEC Corp. and NEC Corp. of America, for a one-time payment to VirnetX and an ongoing reasonable royalty on future sales as outlined in the Agreement with respect to certain current and future IP telephony products supporting encrypted communications.

Under the terms of the Agreement, the Parties have also agreed to dismiss the patent infringement case brought by VirnetX before the U.S. District Court for the Eastern District of Texas. All other aspects of the agreement were not disclosed.

"We are pleased to have come to an agreement with NEC Corp. and NEC Corp. of America on terms consistent with our VirnetX IP Licensing program," said Kendall Larsen, VirnetX President and CEO.

VirnetX Holding Corp. is an Internet security software and technology company with patented technology for secure communications including 4G LTE security.

Source : http://www.electroiq.com/mems/2012/08/11/virnetx-nec-and-nec-corp-of-america-sign-patent-license-deal.html