General Patent's Subsidiary, Advanced Video Technologies, Licenses Mustek under Its Full Duplex Single Chip Video Codec Patent
Suffern, N.Y., August 10, 2011 − General Patent Corporation (GPC), a leading patent licensing and enforcement firm, announced today on behalf of its subsidiary, Advanced Video Technologies LLC (AVT), that it settled a patent infringement lawsuit with Mustek, Inc. of Tustin, Calif. As part of the settlement, Mustek took a non-exclusive license under the patent-in-suit at the AVT's standard royalty rate of $0.25 per unit, and is paying for past acts of infringement of the patent.
AVT owns U.S. Patent No. 5,781,788 (the "'788 Patent") titled "Full Duplex Single Chip Video Codec." In December of 2010, AVT filed a patent infringement lawsuit (Case No. 10-cv-9013) in the U.S. District Court for the Southern District of New York against seven video camera manufacturers. Thus far, Mustek is the fourth defendant to settle the suit. Prior licensees of the '788 Patent include Casio Computer Co., Ltd., Casio America Inc., Pure Digital Technologies, Inc., Electro Flip LLC and Audiovox Electronics Corporation.
"We are pleased to have now reached an agreement with four of the seven defendants in the AVT patent litigation," said Paul J. Lerner, GPC's Sr. Vice President and General Counsel. "The '788 Patent is available for licensing on non-discriminatory terms to other manufacturers," he added.
About Advanced Video Technologies LLC
Advanced Video Technologies LLC owns U.S. Patent No. 5,781,788 for "Full Duplex Single Chip Video Codec." AVT is a portfolio company of IP Holdings LLC and is managed by General Patent Corporation. For licensing terms and conditions for the '788 Patent, contact Kathlene Ingham, GPC's Director of Licensing, at (845) 368-4000 x107 or email email@example.com. For more information about Advanced Video Technologies LLC visit www.advancedvidtech.com.
About IP Holdings LLC
IP Holdings LLC, an affiliate of General Patent Corporation, is an IP-centric merchant banking organization. IP Holdings provides IP finance, IP brokerage and IP advisory services. IP Holdings LLC is a member of Advanced Video Technologies LLC. For more information on IP Holdings, visit www.ip-holdings.com.