ipernica hired to help US legal case

11/08/2008 - 12:42

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West Perth-based ipernica Ltd will lend its knowledge to a Melbourne company caught in legal proceedings in the United States over its intellectual property rights.

West Perth-based ipernica Ltd will lend its knowledge to a Melbourne company caught in legal proceedings in the United States over its intellectual property rights.

ipernica has been hired by private company Financial Systems Technologies to assist with the defence of its US patents against certain identified and unauthorised users, which include a number of major multinationals.

In a statement ipernica said it will help FST, which develops and supplies wholesale and banking software, identify and engage appropriate counsel in return for 50 per cent of the net compensation FST receives after the deducation of legal fees and expenses.

ipernica is currently involved in a new legal stoush with Sweden's Ericsson Inc in the US over the alleged infringement of the Perth company's Stat Mux technology.

The FST case will be handled by ipernica's IP assertion division.

 

Below is the full announcement:

Diversified Australian based technology and intellectual property group, ipernica ltd (ASX: IPR), is pleased to announce the commencement of significant new patent programs within its IP Assertion division.

ipernica has been engaged by the Melbourne based Financial Systems Technologies group of companies ('FST') to assist in the defence of two families of US patents against certain identified unauthorized users.

The companies which FST has identified as allegedly infringing these patents include a number of major multinationals in a range of US industries, such as the Insurance, Finance and Database industries.

ipernica will assist FST to identify and engage appropriate counsel for FST to defend its patents against the various identified infringers. In return for ipernica's services, FST has agreed to pay a fee to ipernica equal to 50% of the net compensation it receives (after deduction of legal fees and expenses and reimbursement of amounts paid by each party pursuant to the engagement).

FST is a privately owned Australian company which has developed and supplied wholesale banking software applications since the late 1980s. The software embodies FST's patented technology and has generated significant revenues. For example, it has been used by major New York Money Center Banks to perform pricing, costing and billing for their wholesale and corporate services.

The patents cover two overlapping functional areas. The first portfolio covers database functions such as how data is organised and interrelated and the second portfolio covers transaction analysis, relationship pricing, billing and costing functions.

The new patent programs further broaden the existing case portfolio within ipernica's IP Assertion division. ipernica is currently engaged by FST to assist in respect of the defence of two of its patents against allegedly unauthorized uses by Oracle Corporation; prior to that, ipernica assisted FST in litigating and settling its claims against a large international bank.

The patents involved in the Oracle program are in the final stages of re-examination and re-issue of proceedings in the US Patent Office. When the patents are re-issued, FST may recommence its infringement action against Oracle in the US District Court for the Eastern District of Texas, Marshall Division.

FST has agreed to pay a fee to ipernica equal to 50% of the net compensation it receives from Oracle (after deduction of legal fees and expenses and reimbursement of amounts paid by each party pursuant to the engagement).

Commenting on the new patent programs, ipernica's managing director, Graham Griffiths, said: "We are very pleased to have this opportunity to assist another Australian patent owner with the complex process of defending their valuable intellectual property. The unauthorised use of Australian technology by large multinational organisations significantly reduces its commercial benefit, which in turn impacts the success and progress of Australian business."

"We are excited to be assisting FST in its efforts to ensure that the value of its innovations is not compromised," Mr Griffiths added.

 

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