Intellectual Ventures Resolves Patent Disputes with SK hynix Inc. and Elpida Memory, Inc.

BELLEVUE, Wash., Sept. 24, 2012 /PRNewswire/ -- Intellectual Ventures (IV^®) announced today that it has reached settlement agreements with SK hynix Inc. and Elpida Memory, Inc. and resolved all pending patent infringement litigation with both companies.

"Intellectual Ventures has reached amicable settlements with both SK hynix and Elpida in the three patent infringement actions we filed against the companies over the past two years," said Melissa Finocchio, vice president and chief litigation counsel for Intellectual Ventures. "IV has built a world-class portfolio of semiconductor patents, and our preference is to sign license agreements and form productive, long-standing relationships with innovative companies rather than to litigate."

Hynix Semiconductor, Inc. (now SK hynix Inc.) and Elpida were named as defendants in IV's patent infringement action filed in December 2010 in the U.S. District Court for the District of Delaware. Both companies and certain of their customers were also named as respondents in an investigation by the United States International Trade Commission of certain memory device manufacturers based upon an IV complaint filed in July 2011, and a related action in the U.S. District Court for the Western District of Washington filed the same month. Due to the settlement agreements, IV will file motions to dismiss all pending litigation against the companies and their customers who were named as respondents. Deal terms will remain confidential.

About Intellectual Ventures

Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies, and invests both expertise and capital in the process of invention. IV's mission is to energize and streamline an invention economy that will drive innovation around the world. For more information, please visit www.intellectualventures.com, follow IV on Twitter at @IVinvents and "like" IV on Facebook at facebook.com/intven.

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SOURCE Intellectual Ventures