TeleCommunication Systems Sells Patents to IP Cube Partners
TeleCommunication Systems (NASDAQ: TSYS) and IP Cube Partners Co. Ltd of South Korea, today announced that TCS has sold two of its U.S. patents to IP Cube Partners for a multi-seven-figure payment. The two patents are: "Single Gesture Map Navigation Graphical User Interface for a Personal Digital Assistant" (U.S. Patent No. 7,142,205) and "Single Gesture Map Navigation Graphical User Interface for a Thin Client" (U.S. Patent No. 7,439,969). The patents involve the use of a stylus for navigating a map application on a hand-held device, such as a personal digital assistant or smartphone.
"IP Cube Partners is one of South Korea's leading intellectual property companies, and the sale of these two patents represents a next step in our program of monetizing the company's growing IP (intellectual property) portfolio," said Maurice B. Tose, TCS chairman, CEO and president. "TCS' IP monetization efforts are not limited to patent sales – we are also pursuing direct licensing, represented licensing/enforcement and direct enforcement of our intellectual property as best suited to the situations."
"Companies around the world are recognizing the value of patent licensing, sales