ParkerVision Secures Patent License and Settlement Agreement with Zyxel

Rhea-AI Summary

ParkerVision, Inc. (OTCQB:PRKR), a developer of radio frequency technologies, has resolved its patent infringement litigation against Zyxel Communications on mutually agreeable terms, including a patent license. This agreement allows ParkerVision to terminate the proceedings initiated in October 2020 concerning Zyxel's use of WiFi chips. The proceeds from this resolution will fund legal expenses. CEO Jeffrey Parker expressed optimism about securing additional licenses for their technologies in the future, highlighting the ongoing patent enforcement actions against other companies, including Intel and LG.

Positive

• Successful resolution of patent litigation with Zyxel, enhancing legal standing.
• Received proceeds will fund legal expenses, ensuring continued legal support.
• Execution of second patent license and settlement agreement in 2021 demonstrates ongoing business momentum and potential for further licensing agreements.

Negative

• None.

JACKSONVILLE, FL / ACCESSWIRE / September 7, 2021 / ParkerVision, Inc. (OTCQB:PRKR), a leading developer of radio frequency technologies used in advanced wireless solutions, announced today that it has successfully resolved its patent infringement litigation against Taiwanese Zyxel Communications Corporation ("Zyxel") on mutually-agreeable and confidential terms including a patent license. Zyxel, with headquarters in Hsinchu, Taiwan manufactures and sells networking devices, including routers and modems.

In conjunction with this agreement, ParkerVision will file a motion to terminate its patent infringement proceedings against Zyxel in the Western District of Texas. Proceeds received will be used for ParkerVision legal expenses.

ParkerVision's patent infringement action against Zyxel was initiated in the Western District of Texas in October 2020 and related to Zyxel's use of WiFi chips in its products. ParkerVision has additional patent infringement actions currently ongoing in the Western District of Texas including cases against Intel, Hisense, TCL and LG.

"We are pleased to execute our second patent license and settlement agreement this year. We continue to believe our wireless technologies are broadly in use in a wide range of applications, and we hope to secure additional licenses for our technologies in the near term," said Jeffrey Parker, ParkerVision's Chairman and CEO.

About ParkerVision

ParkerVision, Inc. has designed, developed, and patented proprietary radio-frequency (RF) technologies which enable advanced wireless solutions for current and next generation wireless communication products. ParkerVision is engaged in a number of patent enforcement actions to protect patented rights that it believes are broadly infringed by others. For more information, please visit www.parkervision.com

Safe Harbor Statement

This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2020 and the Form 10-Q for the quarters ended March 31 and June 30, 2021. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.

Contact:

Cindy French
Chief Financial Officer
cfrench@parkervision.com

Tony Vignieri
Communications Director
tvignieri@parkervision.com

SOURCE: ParkerVision, Inc.

View source version on accesswire.com:
https://www.accesswire.com/662904/ParkerVision-Secures-Patent-License-and-Settlement-Agreement-with-Zyxel

FAQ

What was the outcome of ParkerVision's litigation against Zyxel?

ParkerVision successfully resolved its patent infringement litigation against Zyxel Communications on mutually agreeable terms, including a patent license.

When did ParkerVision initiate the patent infringement action against Zyxel?

ParkerVision's patent infringement action against Zyxel was initiated in October 2020.

What will ParkerVision do with the proceeds from the Zyxel agreement?

The proceeds received from the agreement will be used to cover ParkerVision's legal expenses.

What companies are currently involved in patent actions with ParkerVision?

ParkerVision has ongoing patent infringement actions against companies including Intel, Hisense, TCL, and LG.

How many patent license agreements has ParkerVision executed in 2021?

ParkerVision has executed two patent license and settlement agreements in 2021.