Acacia Research to Receive Royalties From Manufacturer of Loewe Television Brand.Business Editors & High-Tech Writers NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif.--(BUSINESS WIRE)--July 22, 2002 Acacia Research Corporation (Nasdaq:ACRI) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Soundview Technologies, has granted a non-exclusive license of its U.S. Patent 4,554,584 and will receive payment from Loewe Opta Gmbh, a manufacturer of televisions sold under the Loewe brand name. Loewe becomes the thirteenth licensee of Soundview's V-chip technology. Soundview also has granted non-exclusive licenses to Philips Electronics, Hitachi, Samsung Electronics Samsung Electronics (SEC, Hangul:삼성전자; KSE: 005930, KSE: 005935, LSE: SMSN, LSE: SMSD) is a South Korean multinational corporation and the world's largest and leading electronics and information technology company. , Funai Electric, Sanyo Manufacturing, L.G. Electronics, Daewoo, Thomson Multimedia, Matsushita, Orion Electric and JVC JVC Victor Company of Japan (or Japan's Victor Company) JVC Jewelers Vigilance Committee JVC Jesuit Volunteer Corps JVC Jet Vane Control (directs VLS-launched missiles) JVC Jonker-Volgenant-Castanon and settled its lawsuit with Pioneer Electronics. Soundview's patent relates to television video and audio blanking technology, commonly known as V-chip technology. The license to Loewe is part of an overall effort by Soundview to enforce its patent rights. The Settlement Agreement requires that both parties keep the financial terms of the settlement confidential. Soundview's V-chip technology 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 industry and its trade association adopted this method as the technical standard for new television sets sold in the United States that are required to have V-chip technology. Federal law requires implementation of the industry-adopted standard. 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 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.
Soundview Technologies is a wholly owned subsidiary of Acacia Research Corporation. 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. About Acacia Research Corporation Acacia Research develops, licenses and provides products for the life science and media technology sectors. Acacia licenses its V-chip technology to television manufacturers and owns pioneering technology for digital streaming and video-on-demand. Acacia's CombiMatrix subsidiary is developing a 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 for the life science market. Acacia Research's website is located at www.acaciaresearch.com. 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. Statement under the Private Securities 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. Reform Act of 1995: This news release contains forward-looking statements within the meaning of the "safe harbor" 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 are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our 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. , recent and forthcoming Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. , recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. |
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