LONDON, UNITED KINGDOM--(Marketwired - November 28, 2016) - Vedanti Systems Limited and Vedanti Licensing Limited announced today that they entered into an agreement with Max Sound Corporation (OTCQB: MAXD) 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 plans to join VLL as the co-owner in the pending lawsuits in Germany involving Netflix, YouTube and Google. 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.
"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.
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."
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.
About Max Sound Corporation:
As creators of MAX-D HD Audio, Max Sound provides a better solution for audio, video and data transmission. 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.