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ITUS inks 30th settlement agreement for J-Channel patent

Last updated: 05:29 12 Nov 2014 AEDT, First published: 06:29 12 Nov 2014 AEDT

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ITUS Corporation (OTCQB:ITUS) said that its J-Channel Industries subsidiary has entered into another settlement and license agreement with Weather Shield Manufacturing for its patented window frame construction technology.

The deal represents the 30th settlement and/or license agreement for this patent, the company said in a release Tuesday, after signing 15 last week.

"We continue to be encouraged with the progress that we are making and the success that we are having," added president and chief executive officer, Robert Berman.

The latest agreement resolves the patent infringement lawsuit filed against Weather Shield on October 9, ITUS said.

ITUS, which officially changed its name in early September from CopyTele to better align with its new business strategy, estimates about 10 million windows which use the window frame construction technology are sold each year.

The company has 10 patent portfolios in areas such as encrypted cellular communications, key-based web conferencing encryption and other technology fields, and makes money off its patents via lawsuits or license agreements.


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