American Building Control, Inc. Announces Licensing Agreement with SEON Design, Inc.Business Editors LEWISVILLE, Texas--(BUSINESS WIRE)--Oct. 22, 2003 American Building Control, Inc. (Nasdaq:ABCX) announced that SEON SEON Solar Electro-Optical Network SEON Solar Electro-Optical Observing Network Design, Inc., a Canadian corporation, has agreed to enter into a licensing agreement with the Company. The Agreement pertains to the payment of royalties for past and future use of 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. Patent No. RE37,709 E (the "Patent") and warranties not to challenge the ownership, validity or enforceability of the Patent. The Patent pertains to electronic monitoring and surveillance devices installed in public transportation vehicles, for the purpose of security and behavior modification behavior modification n. 1. The use of basic learning techniques, such as conditioning, biofeedback, reinforcement, or aversion therapy, to teach simple skills or alter undesirable behavior. 2. See behavior therapy. . The Company acquired the Patent, which was upheld and re-issued in 2002 after a complete re-examination, from Mr. Jerold Forsberg in 1995. The Company filed its complaint for patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. in April 2003 in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. . The Complaint alleged infringement of the Patent and sought damages including payment of a reasonable royalty and a permanent injunction permanent injunction n. a final order of a court that a person or entity refrain from certain activities permanently or take certain actions (usually to correct a nuisance) until completed. against infringement of the Patent by Seon. After the License was executed the Company dismissed the lawsuit without prejudice Without any loss or waiver of rights or privileges. When a lawsuit is dismissed, the court may enter a judgment against the plaintiff with or without prejudice. When a lawsuit is dismissed without prejudice to refiling. The Company presently has three licensees under the Patent and is concluding negotiations with an undisclosed fourth licensee today. Said Bryan C.W. Tate, Chairman and Chief Executive Officer of American Building Control, Inc., "We continue to aggressively leverage our patent rights covering products and services utilizing our Mobile Video Product technology through licensing arrangements. Our goal is to reach settlement with all other infringers of our patents and cause them to enter into compulsory licenses." About American Building Control, Inc. With headquarters located in the Dallas suburb of Lewisville, Texas, American Building Control Inc. (formerly Ultrak, Inc.) is a global leading provider of access control, consumer/do-it-yourself, industrial video product, mobile video-product, and alarm-management products as well as services. For more information on American Building Control please call (800) 221-7225. Forward-Looking and Cautionary Statements Except for the historical information and discussions contained herein, certain statements included in this press release may constitute "forward-looking statements" within the meaning 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 involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, as discussed in the company's filings with the Securities and Exchange Commission. |
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