VirnetX (VHC) Enters Agreement to License Certain Patents to NEC Corp.
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VirnetX Holding Corp. (AMEX: VHC) and NEC Corporation and NEC Corporation of America (the "Parties") today announced that on August 2, 2012, they signed a Patent License Agreement (the "Agreement"). Under the terms of the Agreement, VirnetX has agreed to license certain of its patents to NEC Corporation and NEC Corporation of America, for a one-time payment to VirnetX and an ongoing reasonable royalty on future sales as outlined in the Agreement with respect to certain current and future IP telephony products supporting encrypted communications.
Under the terms of the Agreement, the Parties have also agreed to dismiss the patent infringement case brought by VirnetX before the U.S. District Court for the Eastern District of Texas. All other aspects of the agreement were not disclosed.
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Under the terms of the Agreement, the Parties have also agreed to dismiss the patent infringement case brought by VirnetX before the U.S. District Court for the Eastern District of Texas. All other aspects of the agreement were not disclosed.
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