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January 14, 2014
Straight Path Announces a Settlement to Its Patent-feud with Internet Service Provider Bandwidth.Com
By Madhubanti Rudra, TMCnet Contributor
In today’s business environment, where new technology means more competitive advantage for the companies, the intellectual property is more valuable than the physical assets and as such it is important to protect these assets from infringements.
Straight Path IP Group (SPIPG) is a company that helps other companies to expand their technology assets. A subsidiary of Straight Path Communications Inc., SPIPG provides licenses for communications over the Internet to voice over Internet protocol (VoIP) providers, and products and services that allow for the transmission of data over the Internet. The company’s patent portfolio includes U.S. and international patents.
The company grants licensees the right to its patent portfolio through proper agreement that requires the licensees to recognize its technological contributions.
In the past, Glen Allen, VA- based Straight Path IP Group got involved in a number of patent infringement law suits with a number of companies including some well-known electronics manufacturers and telecommunications providers.
SPIPG filed a patent infringement lawsuit against Bandwidth (News - Alert).com involving its patent portfolio relating to communications over a network. The latter is an Internet-based provider of Internet and telephone service primarily to business and government users.
According to the latest news release from Straight Path, the two companies have agreed to end the months-long feud that has been pending for months in the United States District Court for the Eastern District of Virginia. Both the parties refrained from commenting on the specific terms of the agreement.
Edited by Cassandra Tucker
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