Suffern, NY (PRWEB) December 15, 2009
General Patent Corporation (GPC), a leading patent licensing and enforcement firm, announced today on behalf of its client, Advanced Video Technologies LLC (AVT), that it settled a patent infringement lawsuit between AVT and Audiovox Electronics Corporation (Audiovox) of Hauppauge, N.Y.
Advanced Video Technologies LLC owns U.S. Patent No. 5,781,788 (the "788 Patent") titled "Full Duplex Single Chip Video Codec." In May of 2009, AVT filed a patent infringement lawsuit (Case No. 09 Civ. 04516) in U.S. District Court for the Southern District of New York against Audiovox Corporation and Audiovox Electronics Corporation. Audiovox agreed to settle the lawsuit and license AVT's '788 Patent, after which the lawsuit was dismissed.
"We are pleased to extend a non-exclusive license under the AVT patent to Audiovox," 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.
Audiovox is the second company to license the AVT patent as the result of a settlement of a patent infringement lawsuit. A third company, Electro Flip LLC of Henderson, Nev. - a company that was not the subject of litigation - licensed the '788 patent voluntarily.
About Advanced Video Technologies LLC
Advanced Video Technologies LLC owns U.S. Patent No. 5,781,788, "Full Duplex Single Chip Video Codec." AVT is a portfolio company of an idea incubator operated by IP Holdings LLC, and AVT 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 kingham(at)generalpatent(dot)com. For more information about Advanced Video Technologies LLC visit http://www.advancedvidtech.com.
About General Patent Corporation
General Patent Corporation, headquartered in Suffern, N.Y., is a leading intellectual property boutique focusing on patent licensing and enforcement. GPC represents patent owners in patent enforcement and assertive licensing matters, and assists patent owners with patent infringement claims and patent litigation on a contingency basis. General Patent also provides IP valuation, IP strategy and technology transfer services. GPC is the oldest patent enforcement firm in the U.S., and is the managing member of Advanced Video Technologies LLC. For more information, visit http://www.generalpatent.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-related financial services, IP brokerage services, and operates an idea incubator. IP Holdings LLC is a member of Advanced Video Technologies LLC. For more information on IP Holdings, visit http://www.ip-holdings.com.