Network-1 Announces Settlement of Patent Litigation With Axis Communications

Network-1 Technologies, Inc. announced that it agreed to settle its patent litigation against Axis Communications, Inc. and affiliated entities pending in the United States District Court for the Eastern District of Texas, Tyler Division, for infringement of Network-1’s Remote Power Patent (U.S. Patent No. 6,218,930). Axis was one of sixteen original defendants named in the litigation.

As part of the settlement, Axis has entered into a Settlement Agreement and non-exclusive License Agreement for the Remote Power Patent. Under the terms of the license, AXIS will receive a fully-paid license to the Remote Power Patent for its full term which expires in March 2020, which will apply to its sales of Power over Ethernet (“PoE”) products, including those PoE products which comply with the Institute of Electrical and Electronic Engineers (“IEEE”) 802.3af and 802.3at Standards.

In September 2011, Network-1 initiated patent litigation against sixteen (16) data networking equipment manufacturers (and affiliated entities) in the United States District Court for the Eastern District of Texas, Tyler Division, for infringement of its Remote Power Patent. Network-1 has now reached settlement and license agreements with thirteen (13) of the original defendants. The remaining three defendants in the lawsuit are Hewlett-Packard Company, Juniper Networks, Inc. and Avaya, Inc. Network-1 seeks monetary damages based upon reasonable royalties. In January 2017, defendant Avaya Inc. filed for bankruptcy under Chapter 11 of the United States Bankruptcy Code. As a result of the filing the litigation against Avaya Inc. is currently subject to an automatic stay. The first of the trials for the remaining defendants is scheduled to commence in November 2017.

To read the full details of the legal case visit MarketWired