ITUS Subsidiary Enters Into Settlement Agreement With Jeld-Wen
MELVILLE, NY--(Marketwired - September 16, 2014) - ITUS Corporation ("ITUS") (ITUS), a company that builds and protects innovation, today announced that its wholly owned subsidiary, J-Channel Industries Corporation ("JCIC"), has entered into a license agreement with Jeld-Wen, Inc., in connection with JCIC's patented J-Channel Window Frame Construction technology.
Robert Berman, ITUS's President and CEO stated, "In the past 7 days alone, we have entered into 5 revenue producing license agreements, and launched our seventh patent assertion program against eBay and the Alibaba companies. It's amazing to see our talented team reunite, and so quickly rekindle the spark that leads to success. The momentum is beginning to build, good things are happening, and it's an exciting time for our company and its shareholders."
The Jeld-Wen agreement is the 12th settlement for the J-Channel Window Frame Construction technology, and resolves the patent infringement lawsuit filed against Jeld-Wen and Lowe's on August 7, 2013, which will be dismissed.
About ITUS Corporation
ITUS develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 10 patent portfolios in the areas of Key Based Web Conferencing Encryption, Encrypted Cellular Communications, E-Paper® Electrophoretic Display, Nano Field Emission Display ("nFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window Frame Construction, VPN Multicast Communications, Internet Telephonic Gateway, and Enhanced Auction Technologies. Additional information is available at www.ITUScorp.com.
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