Patent Auction Firm ICAP Announces Historic Covenant Not to Sue Auction

Strategic Insights -

ICAP Patent Brokerage, the world's largest intellectual property brokerage and patent auction firm, has announced the auction of the first ever Covenant Not to Sue (CNS) related to a US patent, specifically US Patent 7,525,955. This patent, owned by H-W Technology L.C., relates to mobile application stores and e-commerce apps and services, and has a priority date of March 19, 2004. The CNS is designed to effect a dismissal of H-W Technology's current litigation pending in the Northern District of Texas against major technology companies, including Apple, Research in Motion, and Google.

Key Takeaways:

  • ICAP Patent Brokerage is auctioning a Covenant Not to Sue (CNS) related to US Patent 7,525,955, which has a priority date of March 19, 2004.
  • The patent relates to mobile application stores and e-commerce apps and services, and has been alleged to be infringed by major technology companies.
  • The CNS is designed to dismiss H-W Technology's current litigation pending in the Northern District of Texas.
  • Bids for the CNS will be accepted through ICAP's auction process, providing defendants a unique opportunity to eliminate the uncertainty inherent in litigation.
  • The '955 Patent is directed to novel, unique and non-obvious systems and methods of using multi-convergence devices, including smartphones.
  • The patent has been recognized to be applicable to numerous mobile technologies, including mobile application stores and other mobile e-commerce applications and services.
  • A limited number of covenants from H-W Technology covering the '955 Patent will be auctioned, and bids are currently being accepted.
  • ICAP Patent Brokerage is the world's largest intellectual property brokerage and patent auction firm.

Statistics:

  • US Patent 7,525,955 has a priority date of March 19, 2004.
  • The patent relates to mobile application stores and e-commerce apps and services.
  • The CNS is designed to dismiss H-W Technology's current litigation pending in the Northern District of Texas against 24 major technology companies.
  • Bids for the CNS will be accepted through ICAP's auction process.
  • 24 major technology companies, including Apple, Research in Motion, and Google, have been alleged to infringe the '955 Patent.

Sources:

  • ICAP Patent Brokerage, "First-Ever Covenant Not to Sue (CNS) Auction Announced by ICAP Patent Brokerage" (June 2, 2011)
  • ICAP Patent Brokerage, "About ICAP Patent Brokerage"
  • ICAP, "About ICAP"