Suffern, NY - July 22, 2009 - General Patent Corporation (GPC), a leading US patent licensing and enforcement firm, announced today on behalf of its client, Advanced Video Technologies LLC (AVT), that AVT granted a non-exclusive license for AVT's "Full Duplex Single Chip Video Codec" Patent to Electro Flip LLC of Henderson, NV.
Advanced Video Technologies LLC owns U.S. Patent No. 5,781,788 (the '788 Patent) titled "Full Duplex Single Chip Video Codec." Electro Flip entered into a licensing agreement with AVT for use of the '788 Patent in Electro Flips' camcorders including its NanoCam Micro DVD. Electro Flip agreed to pay AVT's standard royalty rate of 25 cents per unit for both past and future sales.
"We are pleased to extend a non-exclusive license under the AVT patent to Electro Flip," said Kathlene Ingham, GPC's Director of Licensing.
About Advanced Video Technologies LLC
Advanced Video Technologies LLC owns U.S. Patent No. 5,781,788, "Full Duplex Single Chip Video Codec." AVT is a portfolio company of an idea incubator operated by IP Holdings LLC, and AVT is managed by General Patent Corporation. GPC has asserted the AVT patent in a number of patent infringement lawsuits, some of which have been amicably settled while others are still pending. A non-exclusive license under the '788 patent is available on reasonable and non-discriminatory terms. For licensing terms, please contact Kathlene Ingham, GPC's Director of Licensing, at (845) 368-4000 x107 or email firstname.lastname@example.org. For more information about Advanced Video Technologies LLC visit www.advancedvidtech.com.
About IP Holdings LLC
IP Holdings LLC, an affiliate of General Patent Corporation, is an IP-centric merchant banking organization. IP Holdings provides IP-related financial services as well as IP brokerage services, and operates an idea incubator. IP Holdings is a member of AVT. For more information on IP Holdings, visit www.ip holdings.com.