ORLANDO, FL--(Marketwired - Jan 27, 2014) - IZEA, Inc. (OTCQB: IZEA), a pioneer of Social Sponsorship, today announced that the Patent Trial and Appeal Board (PTAB or Board) has expanded the Covered Business Method Review (CBMR) to all five of the patents Blue Calypso has asserted against IZEA and other defendants Groupon, Foursquare and Yelp.
On Monday, December 16, 2013, the PTAB instituted a CBMR for three of the five patents asserted by Blue Calypso. On Friday, January 17, 2014, however, the PTAB made it a clean sweep and instituted review of Blue Calypso's remaining two asserted patents. These patents may not even be entitled to their claimed priority dates, thereby expanding the universe of prior art that can be used to challenge their validity. The PTAB also set an accelerated schedule for the most recent CBMRs, such that the Board can make its final determinations with respect to all CBMRs at the same time. The PTAB's final decision regarding all of the asserted patents is expected within eleven months, and Blue Calypso's litigation against IZEA has been stayed by the Court until resolution of the CBMRs.
"The Patent Office's recent actions make clear that these patents should never have been issued in the first place," said Ted Murphy, Founder and CEO of IZEA. "IZEA looks forward to the patent office's final decisions on the business method patent reviews and conclusion of 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