NEW YORK, April 27, 2016 /PRNewswire/ -- Spherix Incorporated (SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property and the advancement of technology, today announced that the United States Supreme Court recently heard oral arguments in Cuozza Speed Technologies vs. Lee, the first case of its kind where the Supreme Court has remarked on post grant administrative proceedings for challenging issued patents. The Supreme Court is addressing two questions. The first pertains to claim construction standards and whether the United States Patent and Trademark Office can use a different standard than the Federal District Court. The second question addresses whether institution decisions are insulated from judicial review.
Anthony Hayes, CEO of Spherix, said, "We are encouraged by recent events in the macro patent landscape surrounding Inter Partes Review. Spherix intends on expanding our monetization efforts and will continue to monitor activity related to the Supreme Court in this important case."
Spherix is committed to advancing innovation by active participation in all areas of the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and support product innovation. Spherix has acquired over 100 patents from Rockstar Consortium Inc., and several hundred patents issued to Harris Corporation, covering a variety of methods and components involved in switching, routing, networking, optical and telecommunication sectors.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.