RYE, N.Y., May 5, 2020 /PRNewswire/ -- Quest Patent Research Corporation (OTCQB: QPRC) ("Quest" or "Company"), an Intellectual Property asset monetization company, today announced additional development in the settlement and dismissal of actions in the Semcon IP Inc. ('Semcon') intellectual property portfolio licensing program.
"Since acquiring the Semcon portfolio in 2015, we have licensed the portfolio to 10 companies, including two so far this year with two trials docketed for 2020," Mr. Jon Scahill, CEO of Quest, commented. "The Semcon IP portfolio is typical of what Quest seeks to achieve in all of its IP portfolio investments. Namely the ability to identify, source and invest in IP assets which are integrated across a variety of end use applications, industries and end users to create large multi-year and multi-company licensing programs."
The Semcon portfolio consists of 4 United States patents that cover fundamental technology for adjusting the processor clock and voltage to save power based on the operating characteristics of the processor and one United States patent that relates to coordinating direct bus communications between subsystems in an assigned channel.
In April 2016, Semcon brought patent infringement suits in the United States District Court for the Eastern District of Texas against Huawei Technologies, MediaTek Inc., STMicroelectronics Inc., Texas Instruments Incorporated and ZTE Corporation. All of these actions were settled and dismissed in 2018.
In May 2018, Semcon brought patent infringement actions in the United States District Court for the Eastern District of Texas against Amazon.com, Inc., AsusTeK Computer Inc. ('Asus'), TCT Mobile International Limited et. al., Kyocera Corporation, Louis Vuitton, SE, Shenzhen OnePlus Science & Technology Co., Ltd., and Michael Kors Holdings Ltd.
Trials have been docketed in the TCT Mobile and Shenzhen OnePlus actions for September 14, 2020 and December 7, 2020, respectively, with the remaining matters having been resolved. Most recently, on May 4, 2020, TCT Mobile's final attempt to get the case dismissed before trial was rejected by the United States Supreme Court by their denial of TCT's Petition to overturn the Federal Circuit Court of Appeals and the District Court.
For more information please refer to the Company's Form 10-K filing with the Securities and Exchange Commission.
About Quest Patent Research CorporationsQuest is an Intellectual Property ('IP') licensing and commercialization company. The Company acquires and manages IP rights from a variety of sources, including large and small corporations, universities and other IP owners. Quest specializes in both mature and emerging technologies, delivering a suite of value add financial, strategic and legal resources to efficiently monetize IP throughout the full commercialization lifecycle. For more information please visit www.qprc.com
Forward-Looking StatementsStatements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
SOURCE Quest Patent Research Corporation