CISCO SYSTEMS SETTLES PATENT LITIGATION AND ACQUIRES TECHNOLOGY LICENSE FROM HANDTRADE.HandTrade.com (HandTrade), a privately held wireless software applications and services company, and Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , Inc. (Nasdaq:CSCO CSCO Cisco Systems Incorporated (stock symbol) CSCO Chief Supply Chain Officer ), the worldwide leader in networking for the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , have entered into a non-exclusive licensing agreement as part of a settlement of patent 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 against Cisco Systems by Visual Interactive Phone Concepts, Inc., the exclusive licensor to HandTrade. The licensed patents cover systems for conducting transactions using video-enabled wired and wireless phones. As a result of the settlement, all claims against Cisco Systems have been dismissed. HandTrade.com is a privately owned company headquartered in Great River, New York's Long Island Technology Center. HandTrade has two main divisions: The first division licenses key intellectual property rights from HandTrade's broad portfolio of intellectual property which covers mobile commerce (m-commerce) and e-commerce transactions conducted on wired and wireless video-enabled phones. This division licenses companies such as manufacturers, wireless carriers and application developers in the m-commerce arena if their hardware or software applications are used to conduct transactions over wired and wireless video-enabled phones. HandTrade acquired key patents in the m-commerce area, including the right to sublicense sub·li·cense n. A license giving rights of production or marketing of products or services to a person or company that is not the primary holder of such rights. tr.v. these patents, through an exclusive license agreement with Visual Interactive Phone Concepts Inc. HandTrade's second division develops software applications and solutions for wireless devices (including handheld computers/PDAs, Web-enabled cellular phones and 3G wireless phones). The company's first product, The HandTrader, which is currently in beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the and scheduled for a full launch in 2001, provides easy, secure, and reliable wireless access to trading capabilities, mission-critical information and real-time stock market data and communications. A product developed by professional stock traders Traders Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. for other stock traders, the HandTrader avails online traders with access to NASDAQ Level II information, stock market alerts, instant confirmations and 24/7 trading capabilities. For additional information, please visit: www.HandTrade.com. By 2002, estimates predict over 1 billion wireless data devices will be in use (both cell-phones and PDAs).(1) Further, by 2005, it is projected that 1.5 billion people will reach the Internet by mobile devices.(2) The U.K. recently auctioned off 3G licenses, obtaining $35.5 billion from companies such as Airtouch, British Telecom The telephone and communications carrier that provides services in Great Britain and Northern Ireland. It used to be a division of the British Post Office, but was privatized in 1984 under Margaret Thatcher's administration. and Vodafone. 3G licenses are scheduled to be auctioned in the U.S. in September 2001. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion