Pantech Licenses Patents from Intellectual Ventures

Oct 12, 2011, 22:00 ET from Intellectual Ventures

SEOUL, South Korea and BELLEVUE, Wash., Oct. 12, 2011 /PRNewswire/ -- Pantech and Intellectual Ventures (IV®) announced today that they entered into a license agreement that provides Pantech with a license to segments of IV's extensive patent portfolio, which includes more than 35,000 IP assets in more than 50 technology areas.

Pantech has the option to become a member of IV's IP-for-Defense program to help minimize risk of future litigation and maintain its focus on innovation. For customers accused of patent infringement, IV's IP-for-Defense program provides them with the ability to obtain patents from IV's portfolio to support counter-assertion, with the goal of enabling more efficient negotiations in order to reduce liabilities and achieve favorable licensing terms.

"As one of Korea's leading mobile handset manufacturers, it's important for Pantech to have an IP strategy that allows us to stay ahead of the curve and continue delivering innovative products," said Chadong Hwang, Leader of IP Strategy Team at Pantech. "This agreement with Intellectual Ventures strengthens our position in the rapidly evolving market by providing us with an efficient way to license a broad array of patented technologies so we can avoid potential disputes in the future and maintain a competitive edge."

"Now more than ever, invention rights are a crucial piece of capital in the mobile communications industry, and today's agreement demonstrates Pantech's progressive approach to IP strategy," said Mario Obeidat, head of telecommunications licensing at Intellectual Ventures. "Intellectual Ventures is working with Pantech to provide it with the invention rights needed to minimize risk and stay competitive in increasingly crowded markets."

IV provides a variety of solutions for companies seeking to develop and enhance their IP strategies. Companies of all sizes can rely on IV to meet their current business needs and to provide guidance on developing and acquiring invention rights relevant to their product roadmaps. In addition to traditional IP licensing deals, companies can work with IV's in-house inventors as well as its network of more than 3,000 inventors in 10 countries around the world to solve near-term technical issues and invent the technologies that will differentiate their next-generation products from the competition.

About Pantech

Pantech Co., Ltd. is one of Korea's top three mobile handset makers. Pantech has received wide-ranging industry recognition for its innovative handset designs, and has also introduced a significant number of breakthrough technologies in the mobile phone industry. Established in 1991, Pantech collectively has approximately 3,500 employees and 6 regional sales offices worldwide. For more information on Pantech, please visit www.pantech.com.

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. www.intellectualventures.com

Intellectual Ventures and IV are registered trademarks of Intellectual Ventures Management, LLC (IV).  All other trademarks are the property of their respective owners.

SOURCE Intellectual Ventures



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