Sierra Wireless, Inc. Purchases MMP Portfolio™ License
CARLSBAD, Calif., Dec. 3, 2012 /PRNewswire/ -- Patriot Scientific Corporation (OTCBB: PTSC) announced today that Sierra Wireless, Inc. has purchased an MMP Portfolio™ license. The agreement resolves the ITC Investigation and District Court lawsuit recently filed against Sierra Wireless, an industry-leading mobile computing and machine-to-machine (M2M) communications products and solutions company. Sierra joins a roster of nearly 100 MMP Licensees that include some of the world's largest electronics companies, including Hewlett-Packard, Sony, Nokia, General Electric, ASUStek, and Philips.
In July, MMP Portfolio owners, Technology Properties Limited and Patriot Scientific Corporation, launched the first wave of aggressive enforcement activities, filing a complaint with the US International Trade Commission (ITC) and corresponding complaints in the US District Court for the Northern District of California against 13 companies believed to be infringing the MMP Portfolio patents. Sierra Wireless is the first of the 13 companies to purchase an MMP License.
The three-pronged enforcement strategy includes: (1) a Complaint filed with the US ITC seeking an Exclusion Order prohibiting the importation of unlicensed products; (2) parallel actions in US District Court seeking damages for past infringement that includes past un-paid royalties — plus the interest which has accrued on those royalties — both tripled for willful infringement, plus attorney's fees; and, (3) the pursuit of injunctions in both the US District Court and the ITC barring the sale of infringing products in the United States in the future.
The remaining ITC respondents are: Acer Inc., Amazon.com Inc., Barnes & Noble Inc., Garmin Ltd., HTC Corporation, Huawei Technologies Co. Ltd., Kyocera Corporation, LG Electronics, Nintendo Co. Ltd., Novatel Wireless Inc., Samsung Electronics Co. Ltd., and ZTE Corporation.
About Patriot Scientific Corporation
Headquartered in Carlsbad, California, Patriot Scientific Corporation (PTSC) 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.
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, 2012, and the quarterly report on Form 10-Q for the period ended August 31, 2012. 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.
Patriot Investor Relations
SOURCE Patriot Scientific Corporation