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ITUS Settles 15 Patent Disputes For Its J-Channel Window Frame Patent

|Includes: ITUS Corp. (ITUS)

ITUS (OTCQB:ITUS), which generates revenue via patent monetization, said that its subsidiary J-Channel Industries has today resolved a total of 15 patent disputes with regards to its window frame construction technology patent.

This means it has agreed to a settlement or license deal with 15 companies that are extruders, manufacturers, or retailers of vinyl windows with J-Channel's patented technology. They include American Builders & Contractors Supply Co., Inc. (ABC Supply); Deceuninck North America; VEKA, Inc.; L.B. Plastics, Inc.; Chelsea Building Products, Inc.; Moss Supply Company; Vinylmax, LLC; Wincore Window Company, LLC; Associated Materials, LLC; Comfort View Products, LLC; Croft, LLC; Magnolia Windows & Doors, LLC; MGM Industries, Inc.; Sun Windows, Inc.; and West Window Corporation.

The J-Channel subsidiary has now signed a total of 29 settlement and/or license agreements with respect to its window frame construction technology.

Prior to the agreement announced Monday, the previous deal was made last week, with Silver Line Building Products, one of the largest vinyl window manufacturers in North America.

"We ended our fiscal year with a flurry of J-Channel activity, which is a testament to the skill, dedication, and hard work of our team," said president and chief executive officer of ITUS, Robert Berman.

"Of the 27 patent infringement lawsuits originally filed in connection with our patented J-Channel technology, 24 lawsuits have now been resolved.

"The current number of settlements and/or licenses for our J-Channel technology exceeds the original number of lawsuits, because in certain instances, companies that were not defendants in our lawsuits have requested licenses."

The agreement today resolved 10 patent infringement lawsuits J-Channel filed in the fall of last year, which will now be dismissed, 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.

It is just days away from a trial that is expected to fetch the company some $300 million. The trial, which was filed in January 2013 and is set to begin November 10, is against Au Optronics, and is tied to ITUS's e-paper electrophoretic display and nano field emission display patents.