Nevada-based patent licensor VirnetX Holding Corporation said it entered into a patent standstill agreement with Taiwanese consumer electronics maker HTC Corporation.
The deal was facilitated by VirnetX’s licensing partner, IPVALUE Management Inc.
“This is a significant development as we continue to grow our business outside the US,” said Sameer Mathur, vice president of corporate development and product marketing for VirnetX.
“This standstill agreement gives both parties more time to discuss and negotiate a broad license, including a license to VirnetX’s LTE-related patents.”
Paul Riley, vice president of licensing for IPValue, said: “We are pleased to have assisted VirnetX in reaching this agreement with HTC, so that a future deal can be consummated without the need for litigation.”