Network-1 Receives New Patent from U.S. Patent Office Expanding Its M2M/IoT Patent Portfolio to 55 Patents Worldwide
Rhea-AI Summary
Network-1 Technologies (NYSE American:NTIP) has received U.S. Patent No. 12,166,869 for key derivation in embedded universal integrated circuit cards, expanding its M2M/IoT Patent Portfolio to 55 patents worldwide. The portfolio now includes 40 U.S. patents, 7 pending applications, and 15 non-U.S. patents, with terms extending to 2033-2034.
The technology enables authentication and use of embedded SIM cards (e-SIMs) in IoT devices, Machine-to-Machine systems, and mobile devices. According to the Trusted Connectivity Alliance, e-SIM profile downloads increased by 109% in 2023, with total e-SIM enabled device shipments reaching 374 million units. The portfolio also covers 5G network authentication and Internet transport layer security solutions.
Positive
- Patent portfolio expansion to 55 patents worldwide
- Portfolio coverage extends until 2033-2034
- Technology aligns with growing e-SIM market (109% growth in 2023)
- Broad application across multiple device categories
Negative
- None.
News Market Reaction – NTIP
On the day this news was published, NTIP declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW CANAAN, CT / ACCESSWIRE / December 11, 2024 / Network-1 Technologies, Inc. (NYSE American:NTIP), a company engaged in the acquisition, development, licensing, and monetization of intellectual property, announced today that the U.S. Patent and Trademark Office has issued U.S. Patent No. 12,166,869, Key Derivation for a Module Using an Embedded Universal Integrated Circuit Card.
The newly issued patent is part of Network-1's M2M/IoT Patent Portfolio that relates to, among other things, the enabling technology for authenticating and using embedded SIM cards (e-SIMs) in next generation IoT, Machine-to-Machine, and other mobile devices, including smartphones, tablets, and computers as well as automobiles. e-SIMs replace the traditional SIM card with internal circuitry that can be remotely provisioned with one or more profiles to access wireless networks. A study by the Trusted Connectivity Alliance (TCA) found that consumer profile downloads to smartphones, watches, tablets, automobiles, and other similar devices increased by more than
Other patents in the M2M/IoT Patent Portfolio relate to enabling technologies for 5G network authentication used in consumer and M2M devices, and the latest available Internet transport layer security solutions.
Network-1's M2M/IoT Patent Portfolio now includes forty (40) issued U.S. patents (and 7 pending applications), plus fifteen (15) issued non-U.S. patents. The patent terms of the MTM/IoT Patent Portfolio are currently expected to extend until 2033-2034. Network-1 anticipates further issuances of additional claims for the M2M/IoT Patent Portfolio.
ABOUT NETWORK-1 TECHNOLOGIES, INC.
Network-1 Technologies, Inc. is engaged in the development, licensing and protection of its intellectual property and proprietary technologies. Network-1 works with inventors and patent owners to assist in the development and monetization of their patented technologies. Network-1 currently owns one hundred and six (106) U.S. patents covering various telecommunications and data networking technologies as well as technologies relating to document stream operating systems, the identification of media content and high frequency trading. Network-1's current strategy includes continuing to pursue licensing opportunities for its intellectual property. Network-1's strategy is to focus on acquiring and investing in high quality patents which management believes have the potential to generate significant licensing opportunities as Network-1 has achieved with respect to its Remote Power Patent and Mirror Worlds Patent Portfolio. Network-1's Remote Power Patent has generated licensing revenue in excess of
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning Network-1's business plans. Such statements are subject to a number of risk factors and uncertainties as disclosed in the Network-1's Annual Report on Form 10-K for the year ended December 31, 2023 and its Quarterly Reports on Form 10-Q for 2024 filed with the Securities and Exchange Commission including, among others, Network-1's uncertain revenue from licensing its intellectual property, uncertainty as to the outcome of pending litigation involving Network-1's Remote Power Patent, whether Network-1 will be successful in its appeal to the Federal Circuit of the District Court judgment dismissing its claims against Google and YouTube involving its Cox Portfolio, the ability of Network-1 to successfully execute its strategy to acquire or make investments in high quality patents with significant licensing opportunities, Network-1's ability to achieve revenue and profits from its Cox Patent Portfolio, M2M/IoT Patent Portfolio, HFT Patent Portfolio and additional revenue from its Remote Power Patent as well as a return on its investment in ILiAD Biotechnologies, LLC or other intellectual property it may acquire or finance in the future, the ability of Network-1 to enter into additional license agreements, uncertainty as to whether cash dividends will continue be paid, Network-1's ability to enter into strategic relationships with third parties to license or otherwise monetize their intellectual property, the risk in the future of Network-1 being classified as a Personal Holding Company which may result in Network-1 issuing a special cash dividend to its stockholders, future economic conditions and technology changes and legislative, regulatory and competitive developments. Except as otherwise required to be disclosed in periodic reports, Network-1 expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein.
Corey M. Horowitz, Chairman and CEO
Network-1 Technologies, Inc.
917-692-0000
SOURCE: Network-1 Technologies, Inc.
View the original press release on accesswire.com
FAQ
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