Lexington Technology Group reaches settlement in Bascom patent case

theflyonthewall.com

Lexington Technology Group, an intellectual property management firm that has entered into a definitive agreement to merge with Document Security Systems (DSS), announced that its wholly owned subsidiary, Bascom Research, reached a settlement with a defendant in its ongoing litigation in the Northern District of California. As a result of the current settlement LTG will realize revenue beginning in 2Q 2013. Terms of the patent license are confidential as stipulated in the agreement, but include an effective royalty rate of approximately 4% for use of the four Bascom patents currently in litigation.

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