NEW YORK, Feb. 16, 2011 /PRNewswire/ -- Network-1 Security Solutions, Inc. (OTC Bulletin Board: NSSI) today announced that Chairman and CEO Corey M. Horowitz was interviewed by CDTV.net (www.cdtv.net), a New York-based financial news network. The interview currently is available at http://www.cdtv.net/users/content/understanding-intellectual-properties-ip-and-patents-corey-harowitz-network-1 and at http://www.youtube.com/watch?v=we0DTvqcMUs
In the CDTV.net news interview, Horowitz stated that Network-1 is engaged in the acquisition, development, licensing and protection of its intellectual and propriety technologies. In addition, Horowitz said that Network-1 assists inventors and other companies in licensing IP and obtaining royalties for patents that they own but are not enforcing.
Network-1's own portfolio includes six patents in the area of data networking, including Power over Ethernet (PoE), a rapidly growing technology that enables deployment of next- generation services such as Voice over IP, Wi-Fi, and security monitoring with lower costs, greater control and enhanced reliability. In 2010, after a protracted litigation, Network-1 licensed six defendants including Cisco Systems, Extreme Networks and Foundry Networks, among others, which paid Network-1 an aggregate upfront payment of approximately $32 million and also agreed to license the Remote Power Patent for its full term, which expires in March 2020. Horowitz said that there are over a hundred other companies that sell PoE products and that Network-1 would be continuing to work on licensing its PoE patent to the entire PoE industry.
Network-1 acquires and licenses intellectual property to maximize its value for the benefit of investors and inventors. Horowitz said that winning patent disputes requires time, expertise, tenacity and financial resources. Network-1 is willing to undertake such battles in partnership with inventors, investors, and technology companies. In so doing, Network-1 helps to promote the continued flow of invention by enabling small firms and inventors, who retain an interest in the intellectual property, to realize a return on their research and development investments.
ABOUT NETWORK-1 SECURITY SOLUTIONS, INC.
Network-1 Security Solutions, Inc. is engaged in the acquisition, development, licensing and protection of its intellectual property and proprietary technologies. It currently owns six patents covering various telecommunications and data networking technologies and is currently focusing its licensing efforts on its Remote Power Patent (U.S. Patent No. 6,218,930) covering the remote delivery of power over Ethernet networks. The Remote Power Patent was granted by the U.S. Office of Patents and Trademarks on April 17, 2001 and expires on March 7, 2020. Network-1 continually reviews opportunities to acquire or license additional intellectual property for the purpose of pursuing licensing opportunities related to its existing intellectual property portfolio or otherwise.
Corey M. Horowitz, Chairman and CEO
Network-1 Security Solutions, Inc.
SOURCE Network-1 Security Solutions, Inc.