NEW YORK, June 14, 2016 /PRNewswire/ -- Spherix
Incorporated (NASDAQ: SPEX) – a company committed to the fostering
of technology and the monetization of intellectual property, today
commented on recent positive developments in the patent
monetization space.
Anthony Hayes, Chief Executive
Officer of Spherix, stated, "Yesterday's United States Supreme
Court Opinion and the recent discussion of the Yahoo Inc. patent
portfolio sale comes as welcome news to our industry. In a
unanimous decision delivered by Chief Justice John Roberts in Halo Electronics, Inc. v.
Pulse Electronics, Inc., the United States Supreme Court
yesterday issued a ruling that generally eased the test for the
awarding enhanced damages for
willfully infringing a patent holder's rights. While the decision
is still being digested by practitioners and scholars, some who
follow the industry viewed it as good news for entities that
monetize intellectual property. As compared to the old test used
before this decision, the new test gives the courts much broader
discretion to award enhanced damages, which we see as a positive
development."
In other news, we noted the Wall Street Journal's June 7, 2016 reporting that Yahoo Inc. has kicked
off an auction for a portfolio of about 3,000 patents expected to
fetch more than $1 billion, according
to people familiar with the matter," added Mr. Hayes. "While
Spherix has not analyzed the Yahoo patents at issue, the Yahoo sale
has been compared to the Nortel Networks patent sale, which fetched
$4.5 billion. Much of Spherix's
patent portfolio came from Nortel and their value has been
substantiated by our notable recent licenses. We wish Yahoo the
best in its efforts to monetize their assets and hope that these
events remind the market of how valuable patents can be to a
company."
About Spherix
Spherix Incorporated was launched in 1967 as a scientific
research company. Spherix is committed to advancing innovation by
active participation in the patent market. Spherix draws on
portfolios of pioneering technology patents to partner with and
support product innovation.
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. While the Company
believes these forward-looking statements are reasonable, undue
reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the
date of this release. These forward looking statements are based
upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation those set
forth in the Company's filings with the Securities and Exchange
Commission (the "SEC"), not limited to Risk Factors relating to its
patent business contained therein. Thus, actual results could be
materially different. The Company expressly disclaims any
obligation to update or alter statements whether as a result of new
information, future events or otherwise, except as required by
law.
Contact:
Investor Relations: Hayden IR
Brett Mass, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
Spherix: Phone: (703) 992-9325
Email: info@spherix.com
www.spherix.com
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SOURCE Spherix Incorporated