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Crown Leverages the Blockchain-Enabled IPwe Platform to Complete the Transaction
LOS ANGELES and PARIS, Oct. 11, 2021 /PRNewswire/ -- Crown Electrokinetics Corp. (NASDAQ: CRKN) ("Crown" or the "Company"), a leading smart glass technology company, has acquired 10 patents from IBM Corporation that complement its patent portfolio. Crown now has a patent portfolio of broad applicability in the smart glass technology area consisting of 34 patents and applications that offer coverage in key global markets.
Crown used IPwe, a patent transaction platform, to identify, analyze, negotiate, and complete the transaction with IBM.
"Many of the companies that use the IPwe platform recognize that there are highly relevant patents owned by innovation leaders like IBM that offer significant benefits if they can be efficiently identified, analyzed and acquired. IBM has thousands of employees that focus on research and these experts innovate in many areas, including smart glass technologies. Crown is forward-thinking enough to realize that acquisitions are a key part of any intelligent intellectual property strategy and acquiring patents from innovation leaders like IBM and others through highly efficient transactions makes tremendous business sense," said Erich Spangenberg, CEO of IPwe.
"Crown has an excellent in-house research and development team dedicated to innovating in the smart glass space. We are also aware that key innovation is occurring outside of Crown, and we want to leverage these opportunities through a highly efficient platform like IPwe," stated Douglas Croxall, CEO of Crown. "The time for faster more efficient exchanges of IP is now made possible by the IPwe Platform and smart buyers and sellers will take advantage of this to dramatically improve their market positions."
Far too often, the only metric used to measure IP is "how many." Crown and IPwe wanted to do something other than just increase the number of patents Crown holds and to ensure Crown is significantly improving the overall quality of its patent portfolio. As this market expands, Crown wants to occupy the leading technology position in the smart glass market, and according to IPwe analytics, Crown is well on its way to obtaining the leading position in smart glass intellectual property.
Crown acquired 10 patents and applications from IBM with coverage in the US, China, Great Britain, Germany and Japan. The patents are core to smart glass technologies, ranging from technical features oriented to dynamically changing the opacity of glass to different applications such as glass that is impenetrable to laser or different uses for the automotive industry, including smart vehicle windshields and windows that eliminate glare and provide environmental control.
About Crown Electrokinetics
Crown is a smart glass technology company and the creator of DynamicTint - We Make Your Glass Smarter™. Originally invented by Hewlett-Packard (HP, Inc.), our technology allows any glass surface to transition between clear and dark in seconds. With applications to a wide array of windows, including commercial buildings, automotive sunroofs, and residential skylights, we partner with leading glass and film manufacturers for mass production and distribution. At the core of our technology is a thin film that is powered by electrically-charged pigment which not only replaces common window tints but is also a more sustainable alternative to traditional window treatments. With its unique ability to be retrofitted to existing glass, DynamicTint™ offers myriad benefits related to reducing carbon emissions. The company is supported by a robust patent portfolio. For more information, please visit WWW.CROWNEK.COM.
IPwe is quickly emerging as creating the industry standard for patent NFTs. IPwe recently announced its partnership with IBM to represent patents as non-fungible tokens (NFTs). IPwe also has a partnership with CasperLabs to further improve the patent registration process and create a chain of custody (CoC) Solution by using the Casper public blockchain to store, secure, and trace patent data, thereby creating a new approach to patent ownership verification. Patent NFTs are stored and shared on the IPwe Platform, running on the IBM Cloud and Blockchain services such as the Casper Network. IPwe operates in more than 50 countries with offices in Asia, Europe, North and South America. To learn more about how IPwe can provide the answers to your IP-related business decisions, visit www.ipwe.com.
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, and terms such as "anticipate," "expect," "intend," "may," "will," "should" or other comparable terms, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of Crown Electrokinetics and members of its management, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those described in Crown Electrokinetics' periodic reports filed with the SEC, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, Crown Electrokinetics undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
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SOURCE Crown Electrokinetics