Forgent Announces Expansion of Successful Intellectual Property Program; New Agreement for Representation and Enforcement of 40 Patents
AUSTIN, Texas--(BUSINESS WIRE)--July 27, 2004--Forgent Networks (Nasdaq:FORG) today announced the execution of a new contingency agreement with Baker Botts LLC ("Baker Botts"), a leading international law firm, that encompasses about 40 patents. The agreement represents a considerable expansion of Forgent's ongoing intellectual property program. This agreement also allows Forgent to put additional resources on its intellectual property program without taking focus away from existing licensing and litigation efforts on United States Patent No. 4,698,672 (the '672 Patent), being represented by Jenkens and Gilchrist ("Jenkens"), a national law firm.
Baker Botts will represent the company in matters relating to the licensing, sale and enforcement of Forgent's intellectual property rights with respect to the 40 patents. The intellectual property embodies diverse technologies ranging from recently awarded Forgent software patents to its legacy intellectual property portfolio representing the company's 20-year history as a pioneer in the communication equipment and service industry.
Since the company's inception, Forgent has designed and developed strategies to help find new and better ways to solve problems. As these solutions were found, the company patented and then sought to commercialize these innovative technologies. This effort has created a diverse portfolio of intellectual property such as data compression, video mail, videoconferencing, video call scheduling, and many others. The company's patent portfolio includes the combined invention of Compression Labs, Inc., VTEL Corporation, and Forgent Networks, Inc.
"We are very pleased that we have two recognized and respected national law firms representing Forgent's interests. Most importantly, by using Baker Botts to assist us in licensing these 40 patents, we don't distract the Jenkens legal team from the successful '672 Patent licensing program," said Richard Snyder, chairman and CEO of Forgent. "We are committed to providing shareholders with significant returns by developing and protecting all of our assets."
Over the last two years, the intellectual property business has generated approximately $90 million from licensing the '672 Patent to 30 different companies in Asia, Europe and the United States. The '672 Patent relates to digital image compression, and fields of use include any digital still image device used to compress, store, manipulate, print or transmit digital still images such as digital cameras. However, the '672 Patent extends beyond digital cameras and includes many digital still image devices such as personal digital assistants, cellular telephones, printers, scanners, and other devices used to compress, store, manipulate, print or transmit digital still images. Forgent has the exclusive right to license and enforce all the claims under the '672 Patent in all fields of use involving digital still image compression. Recently, the company initiated litigation against 31 companies for infringement of the '672 Patent in the United States District Court for the Eastern District of Texas, Marshall Division.
Forgent Networks (Nasdaq:FORG) develops and licenses intellectual property and provides scheduling software to a wide variety of customers. Forgent's intellectual property licensing program is related to communication technologies developed from a diverse and growing patent portfolio. Forgent's software division, NetSimplicity, provides a spectrum of scheduling software that enables all sizes of organizations to streamline the scheduling of people, places and things. For additional information please visit www.forgent.com.
About Baker Botts
Baker Botts L.L.P., founded in 1840, is a leading international law firm with offices in Austin, Baku, Dallas, Houston, London, Moscow, New York, Riyadh and Washington. With more than 650 lawyers, Baker Botts provides a full spectrum of legal services to regional, national and international clients. For more information, please visit www.bakerbotts.com.
This release may include projections and other forward-looking statements that involve a number of risks and uncertainties and as such, actual results in future periods may differ materially from those currently expected or desired. Some of the factors that could cause actual results to differ materially include changes in the general economy and the technology industry, rapid changes in technology, sales cycle and product implementations, risks associated with transitioning to a new business model and the subsequent limited operating history, the possibility of new entrants into the scheduling software market, the possibility that the market for the sale of certain software and services may not develop as expected, that development of these software and services may not proceed as planned, risks associated with the company's license program, including risks associated with litigation involving intellectual property, patents and trademarks, merger activities and acquisition integration. Additional discussion of these and other risk factors affecting the company's business and prospects is contained in the company's periodic filings with the SEC.
SOURCE: Forgent Networks