Digimarc Submits Disputes With Intellectual Ventures to Arbitration
BEAVERTON, OR--(Marketwired - May 31, 2013) - Digimarc Corporation (NASDAQ: DMRC) announced today that it triggered arbitration under the provisions of its Patent License Agreement ("Agreement") with Intellectual Ventures to resolve ongoing disputes relating to Intellectual Ventures' calculation of potential profit sharing payments under the Agreement.
As previously disclosed in our filings with the Securities and Exchange Commission, the Agreement provides that when informal attempts to resolve disputes fail, the parties will submit disputes to final and binding arbitration. Unless otherwise agreed by the parties, the terms of the arbitration provision include that the arbitration is limited to one business day; the award shall be rendered within one hundred twenty (120) days of the arbitration demand; the arbitrators' award may be entered and enforced in any court with competent jurisdiction; and the award will be non-appealable. For more detail, refer to Section 11.9(c) of the Agreement, filed as a material agreement with the Securities and Exchange Commission on March 3, 2011.
About Digimarc
Digimarc Corporation (NASDAQ: DMRC), based in Beaverton, Oregon, is a leading innovator and provider of enabling technologies that create digital identities for all forms of media and many everyday objects. The embedded digital IDs are imperceptible to humans, but not to computers, networks and devices like mobile phones, which can now use cameras and microphones as sensory inputs to "see, hear and understand" the world around them within the context of their environment. Digimarc has built an extensive intellectual property portfolio with patents in digital watermarking, content identification and management, media and object discovery to enable ubiquitous computing, and related technologies. Digimarc develops solutions, licenses its intellectual property, and provides development services to business partners across a range of industries. For more information, visit www.digimarc.com.
