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Patriot Scientific (PTSC) Learns of Agreement Validating Its '336 Patent
SAN DIEGO, Dec. 8 /PRNewswire-FirstCall/ -- Patriot Scientific Corporation (OTC Bulletin Board: PTSC - News) has learned of a license agreement dated June 28, 2004 between Intel Corporation and Charles H. Moore (Moore), TPL Micro Ltd. (TPL Micro) and Technology Properties Ltd. (TPL)(Moore, TPL Micro Ltd. and TPL are collectively the licensors). This agreement provides Intel with, among other things, a non-exclusive, irrevocable, non-terminable, worldwide license to make, have made, use, license, distribute and sell Intel products that practice the U.S. 5,809,336 Patent.
This agreement between Intel and, collectively, the licensors demonstrates the validity of the U.S. Patent 5,809,336, "High Performance Microprocessor Having Variable Speed System Clock." PTSC strongly maintains, and believes the evidence to be submitted at trial, will demonstrate that it is the sole owner of this patent, which has enormous commercial value to the company. "Intel and other companies who execute licensing agreements with Moore, TPL Micro Ltd. and TPL are assuming significant risk for their respective companies in licensing technology for which Moore, TPL Micro Ltd and TPL have no legitimate ownership if in litigation Fish is determined to have been the sole inventor," stated Jeff Wallin PTSC's CEO.
PTSC has been involved over some time in infringement litigations over some parts of its patent portfolio and also in litigation over inventorship and ownership of those patents.
One of the patents, U.S. Patent No. 5,809,336, "High Performance Microprocessor Having Variable Speed System Clock," (the '336 Patent) is listed in the Patent and Trademark Office (PTO), along with several other patents, as having been co-invented by Russell H. Fish, III and Charles H. Moore. Some years ago, Fish's interests in these patents were transferred to the Fish Family Trust, then to Nanotronics Corporation, then to Patriot, which now owns 100% of Fish's interests in these patents, including the '336 Patent. Discovery in the inventorship litigation strongly suggests that Fish was the sole inventor of the '336 Patent. If so, he was then its sole owner, and Patriot is now its sole owner.
PTSC has had suspicions that Intel was behind an offer made through TPL last month to purchase PTSC's patent portfolio. Learning of this license agreement lends creditability to PTSC's concern that Intel, through the licensors, is anxious to secure the technology at a price far less than its value to PTSC's shareholders.
Intel has demonstrated a strong belief in the validity of the patents by entering into the license agreement, and the licensors recognize that they must secure ownership of PTSC's interests or the license agreement may be set aside, and the pending litigation between PTSC and Intel would proceed in the United States District Court for the Northern District of California (case numbers C 03-5787 SBA and C 04-0439 SBA).
About Patriot Scientific
Patriot Scientific is an intellectual property company, developing and marketing innovative and proprietary semiconductor technologies into the fast- growing handheld wireless and smart card markets. The company's portfolio of patents encompasses what is believed to be fundamental microprocessor technology and includes additional patents pending to protect its technology and architecture.
For Patriot Scientific information, contact Lowell Giffhorn at (858) 674-5018. Detailed information about Patriot Scientific can be found on the website http://www.ptsc.com. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found on the websites http://www.hawkassociates.com and http://www.hawkmicrocaps.com.
An investment profile on Patriot Scientific may be found at http://www.hawkassociates.com/patriot/profile.htm.
For investor relations information, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 852-2383.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.
This agreement between Intel and, collectively, the licensors demonstrates the validity of the U.S. Patent 5,809,336, "High Performance Microprocessor Having Variable Speed System Clock." PTSC strongly maintains, and believes the evidence to be submitted at trial, will demonstrate that it is the sole owner of this patent, which has enormous commercial value to the company. "Intel and other companies who execute licensing agreements with Moore, TPL Micro Ltd. and TPL are assuming significant risk for their respective companies in licensing technology for which Moore, TPL Micro Ltd and TPL have no legitimate ownership if in litigation Fish is determined to have been the sole inventor," stated Jeff Wallin PTSC's CEO.
PTSC has been involved over some time in infringement litigations over some parts of its patent portfolio and also in litigation over inventorship and ownership of those patents.
One of the patents, U.S. Patent No. 5,809,336, "High Performance Microprocessor Having Variable Speed System Clock," (the '336 Patent) is listed in the Patent and Trademark Office (PTO), along with several other patents, as having been co-invented by Russell H. Fish, III and Charles H. Moore. Some years ago, Fish's interests in these patents were transferred to the Fish Family Trust, then to Nanotronics Corporation, then to Patriot, which now owns 100% of Fish's interests in these patents, including the '336 Patent. Discovery in the inventorship litigation strongly suggests that Fish was the sole inventor of the '336 Patent. If so, he was then its sole owner, and Patriot is now its sole owner.
PTSC has had suspicions that Intel was behind an offer made through TPL last month to purchase PTSC's patent portfolio. Learning of this license agreement lends creditability to PTSC's concern that Intel, through the licensors, is anxious to secure the technology at a price far less than its value to PTSC's shareholders.
Intel has demonstrated a strong belief in the validity of the patents by entering into the license agreement, and the licensors recognize that they must secure ownership of PTSC's interests or the license agreement may be set aside, and the pending litigation between PTSC and Intel would proceed in the United States District Court for the Northern District of California (case numbers C 03-5787 SBA and C 04-0439 SBA).
About Patriot Scientific
Patriot Scientific is an intellectual property company, developing and marketing innovative and proprietary semiconductor technologies into the fast- growing handheld wireless and smart card markets. The company's portfolio of patents encompasses what is believed to be fundamental microprocessor technology and includes additional patents pending to protect its technology and architecture.
For Patriot Scientific information, contact Lowell Giffhorn at (858) 674-5018. Detailed information about Patriot Scientific can be found on the website http://www.ptsc.com. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found on the websites http://www.hawkassociates.com and http://www.hawkmicrocaps.com.
An investment profile on Patriot Scientific may be found at http://www.hawkassociates.com/patriot/profile.htm.
For investor relations information, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 852-2383.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.
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