Suffern, NY - July 22, 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 AVT granted a non-exclusive license for AVT's "Full Duplex Single Chip Video Codec" Patent to Electro Flip LLC of Henderson, NV.
Advanced Video Technologies LLC owns U.S. Patent No. 5,781,788 (the '788 Patent) titled "Full Duplex Single Chip Video Codec." Electro Flip entered into a licensing agreement with AVT for use of the '788 Patent in Electro Flips' camcorders including its NanoCam Micro DVD. Electro Flip agreed to pay AVT's standard royalty rate of 25 cents per unit for both past and future sales.
"We are pleased to extend a non-exclusive license under the AVT patent to Electro Flip," said Kathlene Ingham, GPC's Director of Licensing.
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 as well as IP brokerage services, and operates an idea incubator. IP Holdings is a member of Advanced Video Technologies. For more information on IP Holdings, visit www.ip holdings.com.
About General Patent Corporation
General Patent Corporation, headquartered in Suffern, NY, is a premier patent enforcement firm. GPC assists clients in patent infringement claims and patent litigation on a contingency basis. GPC also provides IP strategy, IP valuation and patent licensing services. General Patent is the managing member and exclusive licensing agent of AVT. For more information, visit www.generalpatent.com.