Acacia Research Subsidiary Licenses V-chip Patent to Philips Electronics.Business Editors PASADENA, Calif.--(BUSINESS WIRE)--Dec. 18, 2000 Acacia Research Corporation (Nasdaq:ACRI) today announced that its 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, will receive payment and grant a non-exclusive license of its U.S. Patent 4,554,584 to Philips Electronics, the second largest manufacturer of televisions sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Soundview's patent relates to television video and audio blanking technology, commonly known as V-chip technology. The license to Philips Electronics is part of a Settlement Agreement regarding pending 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. brought by Soundview. The Settlement Agreement requires that both parties keep the terms of the settlement, including financial payments to Soundview, confidential. Soundview's V-chip technology, invented by Carl Elam, uses a television's receiver circuitry to decode content rating information sent as part of the broadcast signal. By utilizing the broadcast signal that carries closed-caption data, Soundview's technology is relatively inexpensive to implement. The FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. adopted this method as the technical standard for new televisions sold in the United States that are required to have V-chip technology. The 1996 Telecommunications Act requires all TV manufacturers to include V-chip technology in new television sets with screens 13 inches or larger sold in the U.S. after Jan. 1, 2000. Approximately 25 million new televisions are sold each year in the United States. Soundview has filed a federal patent and antitrust lawsuit against all television manufacturers, the Consumer Electronics Manufacturers Association, and the Consumer Electronics Association. In its lawsuit, pending before the United States District Court for the District of Connecticut The United States District Court for the District of Connecticut is the Federal district court whose jurisdiction is the state of Connecticut. The court has offices in Bridgeport, Hartford and New Haven. , Soundview alleges that television sets fitted with V-chips infringe Soundview's patent. Additionally, Soundview alleges that the Consumer Electronics Manufacturers Association has induced infringement of the patent and that the defendants have violated the federal Clayton and Sherman Antitrust Acts Sherman Antitrust Act, 1890, first measure passed by the U.S. Congress to prohibit trusts; it was named for Senator John Sherman. Prior to its enactment, various states had passed similar laws, but they were limited to intrastate businesses. by engaging in collusive col·lu·sive adj. Acting in secret to achieve a fraudulent, illegal, or deceitful goal. col·lu  sive·ly adv. attempts to prevent others in
the electronics and television broadcasting industries from entering
into licensing agreements with Soundview Technologies. Soundview is
seeking monetary damages, an injunction preventing unlicensed use of its
patented technology, and other remedies.
Acacia Research owns 66.7% of Soundview Technologies. About Soundview Technologies Incorporated Soundview Technologies has acquired and developed intellectual property in the telecommunications field, including audio and video blanking systems, also known as V-chip technology. Soundview owns the exclusive right and title to U.S. Patent No. 4,554,584, which describes a cost efficient method for implementing the V-chip system in parallel with the existing closed-captioning circuits already in place in televisions. The FCC adopted this method as the technical standard for new televisions sold in the United States that are required to have V-chip technology. About Acacia Research Corporation Acacia Research develops and operates life science and enabling technology companies. The company's core technology opportunity has been developed through its subsidiary, CombiMatrix Corporation. Acacia Research intends to build and acquire companies in the life science and material science fields that will utilize CombiMatrix's biochip biochip Small-scale device, analogous to an integrated circuit, constructed of or used to analyze organic molecules associated with living organisms. One type of theoretical biochip is a small device constructed of large organic molecules, such as proteins, and capable of technology. Acacia Research's Web site is located at www.acaciaresearch.com. This release contains forward-looking statements within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements address future events and conditions concerning the company's business plans. Such statements are subject to a number of factors and uncertainties, such as judicial and competitive developments. Acacia Research urges investors to review in detail the risks and uncertainties disclosed in the company's filings under the Securities Exchange Act of 1934, as amended, including, but not limited to the company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1999, as amended, the company's quarterly reports on Form 10-Q Form 10-Q See 10-Q. , and the company's Registration Statement on Form S-3/A filed on Oct. 16, 2000, copies of which can be obtained from the company or the Securities and Exchange Commission. The company expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein. |
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