Spherix Issues Corporate Update - Standard Essential and other Nortel Patents
Acquired from Rockstar in December 2013 Recorded at Patent Office; Announces
Additional New Patent Awarded
TYSONS CORNER, Va., March 31, 2014
TYSONS CORNER, Va., March 31, 2014 /PRNewswire/ -- Spherix
Incorporated(SPEX)--an intellectual property development company committed
to the fostering and monetization of intellectual property, announced today a
corporate update disclosing the 101 patents and patent applications acquired
in December from Rockstar Consortium (US) LP. The list of patents has been
recorded at the U.S. Patent and Trademark Office. Several are considered
"Standard Essential Patents."
A Standard Essential Patent is often defined as a patent that covers part or
all of a technology standard set by a Standard Setting Organization. In the
case of Spherix's patents, several have been asserted as Standard Essential to
the Institute of Electrical and Electronics Engineers ("IEEE") and relate to
the movement of data packets on a Virtual Local Area Network.
Courts have stated that patent holders who participated in the development of
a standard are often bound to offer licenses to Standard Essential Patents on
"fair, reasonable and non-discriminatory (FRAND)" terms. However, courts have
also differed on the meaning of that requirement. Spherix is prepared to
honor all FRAND obligations that originally applied to Nortel and any company
that would like to discuss a FRAND license is asked to contact Spherix's Vice
President of Licensing, Frank Reiner at email@example.com.
Spherix is also offering licenses to startup companies as part of
Innovate21^tm. Innovate21^tm is an initiative of Spherix that offers startup
companies licenses to Spherix patents in exchange for equity positions.
Spherix hopes that these very valuable patents can help spur innovation and
the development of more start up companies, as well as add value to Spherix
shareholders through early investment.
Since the Nortel patents were acquired by Spherix, the portfolio has
expanded. In February 2014, Spherix was notified that patent application
number 12/459,465 issued as patent RE44,775 "VLAN Frame Format." In addition,
Spherix recently received another "Notice of Allowance and Fees Due" from the
U.S. Patent and Trademark Office for another application that will issue as a
patent in the near future.
In addition, Spherix announces that its CEO has been named to the IAM Strategy
300 – The World's Leading IP Strategists, Intellectual Asset Management's
(IAM) annual listing of those individuals identified by IAM as offering
operating companies and other IP owners world-class advice on maximizing the
value of their intellectual property.
Anthony Hayes, CEO stated "Spherix today is much stronger as a company than at
anytime over the last year. We have not only added tremendous assets and
staff to the company, but we have commenced several licensing campaigns that
we believe will act as a platform for continued growth. As we continue to
progress in our monetization efforts, we have disclosed the Nortel assets we
own to better help the investment community understand our IP portfolio."
Spherix Incorporated was launched in 1967 as a scientific research company.
Spherix is committed to advancing innovation by active participation inthe
patent market. Spherix draws on portfolios of pioneering technology patents to
partner with and support product innovation.
Forward Looking Statements
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,
including the Prospectus filed under Rule 424B3 filed February 19, 2014 with
the SEC. 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
Phone: (703) 992-9325
SOURCE Spherix Incorporated
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