Network-1 Security has agreed to settle its patent litigation against Netgear, pending in the United States Attorney for the Eastern District of Texas, for infringement of Network-1’s Remote Power Patent.
Netgear has entered into a settlement agreement and non-exclusive license for the Remote Power Patent. Under the terms of the license, Netgear will license the Remote Power Patent for its full term through March 2020. Netgear will pay quarterly royalties, beginning from April 1, 2009, based on its sales of POE products. The licensed products include Netgear’s PoE enabled switches and wireless access points.
The royalty rates are 1.7% of the sales price of power sourcing equipment which includes ethernet switches and 2% of the sales price of powered devices which include wireless access points.
Corey Horowitz, chairman and chief executive officer of Network-1, said: This outcome is consistent with Network-1’s goal of making licenses available to the technologies covered by the Remote Power Patent to the Power over Ethernet industry in a manner that promotes the widespread adoption of this important industry standard.
