MIRROR IMAGE AG, a corporation organized and existing under the laws of Switzerland which owns U.S. Patent Nos. 7,589,893 and 7,455,412 (the "Patents"), as well as an international portfolio of additional patents and patent pending applications for the "Mirror TV" product segment, and ad notam AG, a corporation organized and existing under the laws of Germany and a pioneer and developer of innovative design mirror technology, the exclusive licensee of the Patents, and ad notam LLC, a limited liability corporation organized under the laws of New York and the licensee of ad notam AG for the Patents, together with their Affiliates (being referred to herein collectively as "ad notam") and Blue Vision, Inc., a corporation organized under the laws of Illinois ("Blue Vision"), a company with a line of Mirror TV's announced today that the parties have reached a settlement regarding the use of the Patents for Blue Vision's Mirror TV's and displays pursuant to a complaint ad notam filed against Blue Vision on April 22, 2010 in the United States District Court for the Northern District of Illinois, for infringement of Patents, in the action entitled MIRROR IMAGE AG et al. v. Blue Vision, Inc., Docket No. 10-cv- 02479 (the "Action").
The Parties have agreed to a resolution of the complaints initiated by the Action in which Blue Vision acknowledges the value of ad notam's intellectual property and the Patents.
A Settlement and License Agreement was agreed to and executed under which ad notam grants, and Blue Vision accepts, a license under the Patent rights covering Mirror TV's and displays.
The financial structure of the agreement consists of a one-time lump sum amount payable by Blue Vision and on-going royalties to be paid by Blue Vision to ad notam. The specific terms of the contract are confidential.
MIRROR IMAGE and ad notam are pleased to announce that Blue Vision has agreed to recognize the Patents as the base technology covering the Blue Vision portfolio of products that will enable Blue Vision to market and sell its Mirror TV's and displays in its portfolio of products in a manner consistent with the recognition of the ad notam intellectual property rights as embodied and protected by law under the Patents.
Blue Vision is pleased to announce that Action was settled in a manner that allows Blue Vision the right to continue its business in the market segment of Mirror TV's and displays as an authorized licensee of ad notam and its Patents and sell its products without the risk of infringement of ad notam's wide ranging intellectual rights in the Mirror TV market segment.
MIRROR IMAGE® is the Monitor System that drives images through glass to deliver superb picture quality. Whether placed behind a crystal mirror or a MAGIC MIRROR®, MIRROR IMAGE® transforms an ordinary mirror to a mirror "powered by ad notam®".
Additional information on ad notam® and its products can be found at the company's website:
http://www.ad-notam.com
Information on Blue Vision can be found at the company's website:
http://www.bluevisiontvmirror.com
The Parties have agreed to a resolution of the complaints initiated by the Action in which Blue Vision acknowledges the value of ad notam's intellectual property and the Patents.
A Settlement and License Agreement was agreed to and executed under which ad notam grants, and Blue Vision accepts, a license under the Patent rights covering Mirror TV's and displays.
The financial structure of the agreement consists of a one-time lump sum amount payable by Blue Vision and on-going royalties to be paid by Blue Vision to ad notam. The specific terms of the contract are confidential.
MIRROR IMAGE and ad notam are pleased to announce that Blue Vision has agreed to recognize the Patents as the base technology covering the Blue Vision portfolio of products that will enable Blue Vision to market and sell its Mirror TV's and displays in its portfolio of products in a manner consistent with the recognition of the ad notam intellectual property rights as embodied and protected by law under the Patents.
Blue Vision is pleased to announce that Action was settled in a manner that allows Blue Vision the right to continue its business in the market segment of Mirror TV's and displays as an authorized licensee of ad notam and its Patents and sell its products without the risk of infringement of ad notam's wide ranging intellectual rights in the Mirror TV market segment.
MIRROR IMAGE® is the Monitor System that drives images through glass to deliver superb picture quality. Whether placed behind a crystal mirror or a MAGIC MIRROR®, MIRROR IMAGE® transforms an ordinary mirror to a mirror "powered by ad notam®".
Additional information on ad notam® and its products can be found at the company's website:
http://www.ad-notam.com
Information on Blue Vision can be found at the company's website:
http://www.bluevisiontvmirror.com
