Network-1 Settles Patent Litigation With Juniper Networks - Quick Facts

(RTTNews) - Network-1 Technologies, Inc. (NTIP) said it has agreed to settle its patent litigation against Juniper Networks, Inc. (JNPR) 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. Juniper was one of sixteen original defendants named in the litigation.

Under the terms of the settlement, Juniper will pay $13.25 million and 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 or PoE products. This includes those PoE products which comply with the Institute of Electrical and Electronic Engineers or IEEE 802.3af and 802.3at Standards.

In September 2011, Network-1 initiated patent litigation against sixteen data networking equipment manufacturers in the United States District Court for the Eastern District of Texas, Tyler Division, for infringement of its Remote Power Patent.

Network-1 noted that it has now reached settlement and license agreements with fifteen of the sixteen original defendants. The sole remaining defendant in the lawsuit is Hewlett-Packard Co. (HPQ).

Network-1 said it is seeking monetary damages based upon reasonable royalties. The trial against Hewlett-Packard is scheduled to commence on November 6, 2017.

Network-1 currently has twenty-seven license agreements with respect to its Remote Power Patent.