We just announced our newest customer, Pantech, one of Korea’s top mobile handset makers. With this deal, Intellectual Ventures provides Pantech with a license to segments of our patent portfolio, which includes more than 35,000 IP assets in more than 50 technology areas.
“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.”
By becoming an IV licensee, Pantech will also be dismissed from the complaint that IV filed in July 2011 with the United States International Trade Commission (ITC).
“Pantech was included in the ITC complaint that Intellectual Ventures filed in July 2011 against certain memory device manufacturers because it imported products containing infringing memory devices,” said Melissa Finocchio, chief litigation counsel for Intellectual Ventures. “Our discussions with Pantech have been collaborative and positive, and we’ll be dismissing the company from our ITC complaint as a result of this license agreement. Pantech has a legacy of creating innovative products and also realizes that working with us – an outside company focused on intellectual property – will help strengthen its IP strategy overall, making it a stronger and more competitive company.”