SOURCE: ITUS Corporation

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September 16, 2014 07:00 ET

ITUS Subsidiary Enters Into Settlement Agreement With Jeld-Wen

MELVILLE, NY--(Marketwired - September 16, 2014) - ITUS Corporation ("ITUS") (OTCQB: ITUS), a company that builds and protects innovation, today announced that its wholly owned subsidiary, J-Channel Industries Corporation ("JCIC"), has entered into a license agreement with Jeld-Wen, Inc., in connection with JCIC's patented J-Channel Window Frame Construction technology.

Robert Berman, ITUS's President and CEO stated, "In the past 7 days alone, we have entered into 5 revenue producing license agreements, and launched our seventh patent assertion program against eBay and the Alibaba companies. It's amazing to see our talented team reunite, and so quickly rekindle the spark that leads to success. The momentum is beginning to build, good things are happening, and it's an exciting time for our company and its shareholders."

The Jeld-Wen agreement is the 12th settlement for the J-Channel Window Frame Construction technology, and resolves the patent infringement lawsuit filed against Jeld-Wen and Lowe's on August 7, 2013, which will be dismissed.

About ITUS Corporation
ITUS develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 10 patent portfolios in the areas of Key Based Web Conferencing Encryption, Encrypted Cellular Communications, E-Paper® Electrophoretic Display, Nano Field Emission Display ("nFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window Frame Construction, VPN Multicast Communications, Internet Telephonic Gateway, and Enhanced Auction Technologies. Additional information is available at www.ITUScorp.com.

Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect ITUS Corporation's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2013 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.

Contact Information

  • Contact
    Ron Tenio
    631-549-5900 x112
    rtenio@ITUScorp.com 
    ITUS Corporation
    BUILDING & PROTECTING INNOVATION™