VistaQuest Corporation and Aiptek, Inc. Agree to Settle a Lawsuit over Infringement of Advanced Video Technologies' Full Duplex Single Chip Video Codec Patent
Suffern, N.Y., September 15, 2011 − General Patent Corporation (GPC), a leading patent licensing and enforcement firm, announced today on behalf of its subsidiary, Advanced Video Technologies LLC (AVT), that it reached settlements with the last two out of seven defendants in a patent infringement lawsuit filed last year. VistaQuest Corporation of Woodland Hills, Calif., took a license under the AVT patent, paying AVT's standard $.25-per-unit royalty for past and future sales of camcorder products. The last defendant, Aiptek, Inc. of Irvine, Calif., agreed to settle the lawsuit.
AVT owns U.S. Patent No. 5,781,788 (the "'788 Patent") titled "Full Duplex Single Chip Video Codec." In December of 2010, AVT filed a patent infringement lawsuit (Case No. 10-cv-9013) in the U.S. District Court for the Southern District of New York against seven camcorder vendors. VistaQuest and Aiptek join Imation Corporation, Isonic Corporation, Mustek, Inc., and Sakar International, Inc. that all previously agreed to settle the lawsuit or take a license.
"We are very pleased to have now reached agreements with all seven defendants and resolved this lawsuit," says Alexander Poltorak, founder and CEO of General Patent Corporation. "The '788 Patent is available for licensing on fair, reasonable and non-discriminatory terms to other camcorder vendors," he added.
About Advanced Video Technologies LLC
Advanced Video Technologies LLC owns U.S. Patent No. 5,781,788 for "Full Duplex Single Chip Video Codec." AVT is a portfolio company of IP Holdings LLC and 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 email@example.com. For more information about Advanced Video Technologies LLC visit www.advancedvidtech.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 finance, IP brokerage and IP advisory services. IP Holdings LLC is a member of Advanced Video Technologies LLC. For more information on IP Holdings, visit www.ip-holdings.com.