Acacia Research Announces Dismissal of Challenge to Subsidiary's V-Chip Patent.PASADENA, Calif.--(BUSINESS WIRE)--Oct. 5, 1998-- Parental Guide Files Notice of Dismissal in U.S. District Court and Agrees to Pay Royalties to Soundview Technologies Acacia Research Corp. (Nasdaq/NMS:ACRI) announced today that PG Distribution, Inc. and Parental Guide Company, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control have filed a notice of dismissal of the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. against the Company's majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. , Soundview Technologies, which challenged the validity of Soundview Technologies' United States Patent No. 4,554,584 relating to V-chip technology. In addition, PG Distribution and Parental Guide have agreed to pay royalties to Soundview Technologies under a non-exclusive, non-transferable license to make, use and sell, or lease products under the claims of Soundview Technologies' patent. Soundview Technologies' patent describes the method for implementing the V-chip system in parallel with the existing closed-captioning circuits already in place in televisions. The Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. has adopted this method as the technical standard for new televisions that will be required to have V-chip technology. Soundview Technologies has launched its licensing program for its technology for the approximately 25 million new televisions sold each year as well as V-chip equipped cable boxes, VCRs, and converter boxes for the 200 million existing televisions in the United States. Acacia Research Corp. (ACRI) is a diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a with interests in several enterprises -- CombiMatrix Corp. (biochips/drug discovery technology), Greenwich Information Technologies LLC (video and audio-on-demand technology), Internet Software LLC (internet software), MerkWerks Corp. (software development), Soundview Technologies Inc. (V-chip technology), Whitewing Labs, Inc. (marketer of nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. ), and the Company's investment advisory business (managing four private investment funds). |
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