Press Release
Intellectual Ventures Reaches Settlement, License Agreement with HCC
January 23, 2019 Bellevue, WA
- Buzz
- Intellectual Ventures Reaches Settlement...
“With this license, we are one step closer to ending the unlicensed use of our technology by the insurance industry,” said Mathen Ganesan, executive vice president, Invention Investment Fund at Intellectual Ventures.
Intellectual Ventures (IV®) and HCC Insurance Holdings reached a settlement agreement that resolves all pending patent infringement litigation between the companies. IV has moved to dismiss HCC from a suit originally filed in July 2015.
The suit, pending in the U.S. District Court for the Eastern District of Texas, involved technologies related to desktop and front-end customer-facing technologies, as well as back-end database, server, and security technologies. HCC is the second insurance company to reach a settlement with IV and IV continues to pursue litigation against two other companies in the insurance industry.
“With this license, we are one step closer to ending the unlicensed use of our technology by the insurance industry,” said Mathen Ganesan, executive vice president, Invention Investment Fund at Intellectual Ventures. “Our customers recognize the value of invention and that a license enables continued innovation and the ability to bring new products to market.”
For more information:
Intellectual Ventures
press@intven.com
425.283.4726
More Buzz From IV
Intellectual Ventures founder and CEO Nathan Myhrvold illuminates why people and the planet need every source of reliable, carbon-free energy we can get.
Read More
Global Good’s Manan Shukla, who recently sat down with the African publication Rural Reporters, discusses how invention can address some of the challenges faced by small-scale farmers in the developing world.
Read More
Is U.S. leadership in innovation losing ground? IV’s chief policy counsel Russ Merbeth weighs in.
Read More