SAN DIEGO, CA--(Marketwired - November 29, 2016) - Max Sound Corporation (OTCQB: MAXD) announced today that they entered into an agreement with Vedanti Systems Limited and Vedanti Licensing Limited (VLL) that resolves their dispute over the international Optimized Data Transmission (ODT) patent portfolio previously owned by Vedanti. The agreement further provides that VLL and MAXD will become co-owners of the pioneering portfolio.
The affected patents are based on inventions related to the efficient transmission of digital content through the optimization of data capacity. The patented technology has been asserted against multiple popular video standards currently used by companies that transmit video over the Internet.
The companies will work together on existing business opportunities and will jointly implement strategies for monetizing the ODT patents and defending the patents from invalidity challenges. MAXD will join VLL as the co-owner in the pending lawsuits in Germany involving Netflix, YouTube and Google, with hearings scheduled on December 8th, 2016, January 27rd, 2017 and May 2nd, 2017. MAXD and VLL also plan to participate as co-plaintiffs in patent infringement lawsuits to be brought against infringers who do not enter into license agreements.
MAXD's CEO John Blaisure says, "This strategic partnership has been carefully thought through by both companies. By working together as co-owners of this important international patent portfolio, VLL and MAXD will have significantly more legal and financial strength to effectively implement our global enforcement monetization program."
"This is a strategic partnership that substantially strengthens the professional and financial interests of both parties," says Paul Wheeler, Director of Vedanti Systems Limited and Vedanti Licensing Limited. "We look forward to working with Max Sound's CEO, John Blaisure, on VLL's Patent Steering Committee, as well as MAXD's advisors. We all agree that the time has come to accelerate monetization of this patent portfolio," says Mr. Wheeler.
About Max Sound Corporation: As creators of acclaimed MAX-D HD Audio, Max Sound can provide a better solution for Audio, Video and Data transmissions. Max Sound Corporation is the company that brings forth technologies for the betterment of our world, including being co owners of the Optimized Data Transmission Technology patent portfolio. Max Sound®, MAXD® and MAX-D Audio Perfected® and HD Audio® are registered trademarks. All other trademarks are the property of their respective owners. To learn more about the MAX-D Technology, please visit http://maxd.audio.
About Vedanti Licensing Limited: VLL, a UK entity, focuses on licensing patent assets in the global market, with the goal of assisting in the development of products that will pave the way for the next generation of mobile users.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Statements in this press release which are not purely historical, including statements regarding Max Sound's intentions, beliefs, expectations, representations, projections, plans or strategies regarding the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow or adequacy of capital resources, market acceptance risks, technical development risks, and other risk factors. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Max Sound disclaims any obligation and does not undertake to update or revise any forward-looking statements in this press release. Expanded and historical information is made available to the public by Max Sound Corporation and its Affiliates on its website http://maxd.audio or at http://www.sec.gov.