General Patent’s Subsidiary, Advanced Video Technologies, Licenses Coby Electronics under Its Full Duplex Single Chip Video Codec Patent
Suffern, N.Y., April 11, 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 settled a patent infringement lawsuit between AVT and Coby Electronics Corporation of Lake Success, N.Y.
As part of the settlement, Coby took a non-exclusive license under the patent-in-suit.
Advanced Video Technologies LLC 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 Coby Electronics Corporation and six other companies. General Patent and Coby agreed to settle the lawsuit and have Coby license the ‘788 Patent.
“We are pleased to have reached an agreement with Coby Electronics over infringement of the AVT patent,” 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.
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 an idea incubator operated by 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 protected]. 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-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 www.ip-holdings.com.