ORLANDO, FL--(Marketwired - Jan 17, 2014) - IZEA, Inc. (OTCQB: IZEA), a pioneer of Social Sponsorship, today announced that the court has granted a joint motion to stay Blue Calypso's patent infringement case until the Patent Trial and Appeal Board's (PTAB) Covered Business Method Review (CBMR) of Blue Calypso's asserted patents is complete.
On Thursday, December 16, 2013, the PTAB instituted a CBMR for three of the five patents Blue Calypso asserts in its case against IZEA. In its decisions granting the CMBRs, the PTAB explained that several of Blue Calypso's asserted patents are likely invalid. In particular, the PTAB found it more likely than not that each patent was invalid based on two independent grounds of anticipation, and one ground of obviousness. Additionally, the PTAB preliminarily found it more likely than not that many of the claims of one of Blue Calypso's patents were invalid due to a lack of written description. The PTAB's final decision regarding the first three asserted patents is expected within eleven months.
"IZEA remains steadfast in our belief that we do not violate any of Blue Calypso's patents, nor should they have ever been granted," said Ted Murphy, Founder & CEO of IZEA. "We are pleased that the patent office has taken this important step in protecting marketplace innovators like IZEA. The stay in the case will significantly reduce IZEA's legal expenses during the stay period. IZEA looks forward to the patent office's final decisions on the business method patent reviews and a positive outcome in the Blue Calypso litigation."
Founded in 2006, IZEA is the pioneer of Social Sponsorship. The company builds cloud-based marketplaces that connect brands with creators who blog, tweet, pin, and post on their behalf. Brands receive influential consumer content and engaging, shareable stories that drive awareness. Creators are compensated for their participation and partnership. For more information about IZEA, visit http://corp.izea.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based largely on IZEA's expectations and are subject to a number of risks and uncertainties, certain of which are beyond IZEA's control. Actual results could differ materially from these forward-looking statements as a result of, among other factors, competitive conditions in the Sponsored Social segment in which IZEA operates, failure to popularize one or more of the marketplace platforms of IZEA, inability to obtain additional capital, and changing economic conditions that are less favorable than expected. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this release will in fact occur. Forward-looking statements speak only as of the date they are made, and IZEA does not undertake to update such statements other than as required by law. Please read the full statement and disclosures here: http://corp.izea.com/safe-harbor-statement