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Dustin Moore is a researcher and analyst focusing on overlooked and undervalued investments. He enjoys analyzing under-the-radar companies with massive upside potential and those with favorable risk/reward ratios. On Twitter! @dustinrmoore
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  • Quick Thoughts On VirnetX's Recent Order On An Ongoing Royalty Rate

    Quick Thoughts on VirnetX's Recent Order on an Ongoing Royalty Rate:

    I see lots of confusion on the Order released yesterday. VirnetX received a higher percentage royalty rate in part because "While Apple has taken steps to mitigate its infringement, Apple grossly misrepresented its ability to implement a non-infringing alternative to the jury."

    Thus, it is clear the work arounds the company was pursuing were not working well or were expensive.

    But, IMO, the key quote from the Judge was this:

    VirnetX argues that the accused FaceTime and VPN ON Demand features remain unchanged in all Apple products, therefore the Court should apply the ongoing royalty to all of Apple's products that incorporate the infringing functionalities. Apple did not contest VirnetX's characterization. Accordingly, the Court sees no reason not to include unadjudicated products that incorporate any of the FaceTime or VPN On Demand features foundto infringe at trial in the ongoing royalty base.

    Thus, based on what Apple itself stated, it did not implement a non-infringing workaround at all, at least as of the time the Judge received all the facts of this case. That is amazing to me. All they had to do what implement something that would force the Judge to say that the products were different enough that he could not give VirnetX a royalty for them. Instead Apple admitted they "remained unchanged", making the Judge's decision a complete no brainer.

    The clear reading IMHO is that yesterday's Order could not have been better for VirnetX based on what was at hand. The company got the rate percentage it was looking for and Apple admits, up to as far as we can see, that the features are still operating in the same manner because Apple is/was struggling/unable/unwilling to "implement a non-infringing alternative". Therefore, VirnetX is still entitled to continued royalties on those items.

    Mar 07 9:38 AM | Link | 4 Comments
  • VirnetX Preliminary Response To Apple '697 IPR

    VirnetX Preliminary Response to Apple '697 IPR:

    Mar 06 1:00 PM | Link | 2 Comments
  • Mastercard Taps Syniverse For Location-Based Card Authentication

    MasterCard announces agreement to work with Syniverse on " opt-in service that will enable card transactions for users only when they have their mobile device switched on in a specific geolocation abroad."

    On one hand, this story may validate Elephant Talk's subsidiary's business for location based security for transactions. MasterCard is certainly interested. Furthermore, "Syniverse believes that the global market for retail-boosting services based on mobile contextual location data could be worth as much as $44 billion annually."

    On the other hand, ValidSoft has had this technology for at least 6 years. So why did MasterCard choose Syniverse and not ValidSoft?

    In 2010, VisaEurope agreed to work with ValidSoft to implement location based services. However, with no further news on the development, the relationship appears to have fizzled. I believe that agreement also prohited ValidSoft from working with VisaEurope's competitors (MasterCard?).

    The company has now integrated ValidSoft technology into FICO's Fraud Resolution Manager. "The new FICO service which several UK banks are planning to deploy has been developed in partnership with ValidSoft..."

    Mar 01 4:37 PM | Link | Comment!
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