November 03, 2006
On Wednesday, Forgent Networks announced that it settled all of its remaining claims in the cases regarding its JPEG patent. In a brief two-paragraph press release, Forgent mentioned that it and "all of the parties in the cases" regarding U.S. Patent No. 4,698,672 ("Coding system for reducing redundancy") reached a settlement as to all claims being litigated. Although the press release states that "Forgent is precluded from disclosing the terms of the agreement," several sources, including the CNET news article (link below), report that a spokesperson for Forgent announced the settlement was for $8 million. It was reported that 15 of the 45 initial defendants settled with Forgent prior to this most recent settlement. Since acquiring the patent in 1997, Forgent has obtained over $110 million in royalties on this patent alone.
U.S. Patent No. 4,698,672: LINK
Forgent Networks Press Release: LINK
Forgent Networks Website: LINK
CNET News Article: LINK
U.S. Patent No. 4,698,672: LINK
Forgent Networks Press Release: LINK
Forgent Networks Website: LINK
CNET News Article: LINK
0 comments:
Post a Comment