NEW YORK, Feb. 4, 2011 /PRNewswire/ -- Network-1 (BULLETIN BOARD: NSSI) announced that Chairman and CEO Corey M. Horowitz was interviewed by CEOCFO, a weekly print and online publication that focuses on publicly traded companies. The interview is available http://www.ceocfointerviews.com/interviews/NSSI-Network-111.htm.
In the interview, Horowitz described Network-1's business model as an intellectual property licensing company that focuses on the acquisition, development, licensing and protection of intellectual property assets. Network-1's strategy is to pursue licensing opportunities with companies in the industries that manufacture and sell products that make use of the technologies underlying Network-1's patents.
According to Horowitz, "[Network-1] spent six years licensing intellectual property related to a technology standard called Power over Ethernet. We have been in litigation twice, and both times we went were successful in licensing the patent to the defendants in the case. In fact, we went to trial this summer and settled during the trial resulting in licenses with Cisco Systems, Adtran, Foundry Networks, Extreme Networks, and Enterasys Networks. We also have licenses with NetGear, D-Link Corporation and Microsemi. There are also probably over two hundred other companies practicing the same Power over Ethernet standard that we would like to license."
Horowitz said Network-1 expects future growth as companies recognize that they have patents and that it would be wise to monetize these patents. "Their business is to build products and build technology. Therefore, they may choose to partner with Network-1 and let us do it for them." Horowitz added, "We are presently in conversations with lots of companies who have patents who are saying: 'Why don't you do this for us?'"
Network-1's revenue model is focused on licensing revenues, Horowitz said. In the case of its PoE patent, Network-1 now licenses the technology to companies that pay royalties for the use of the technologies described in the patent. Some have paid one-time payments and others have agreed to pay royalties through the expiration of the patent, which is 2020. Horowitz noted, "It is a very good model because those are very high margin royalties."
ABOUT NETWORK-1 SECURITY SOLUTIONS, INC.
Network-1 Security Solutions, Inc. is engaged in the acquisition, development, licensing and protection of its intellectual property and proprietary technologies. It currently owns six patents covering various telecommunications and data networking technologies and is currently focusing its licensing efforts on its Remote Power Patent (U.S. Patent No. 6,218,930) covering the remote delivery of power over Ethernet networks. The Remote Power Patent was granted by the U.S. Office of Patents and Trademarks on April 21, 2001 and expires on March 11, 2020. Network-1 continually reviews opportunities to acquire or license additional intellectual property for the purpose of pursuing licensing opportunities related to its existing intellectual property portfolio or otherwise.
Corey M. Horowitz, Chairman and CEO Network-1 Security Solutions, Inc. (212) 829-5770
Network-1
CONTACT: Corey M. Horowitz, Chairman and CEO, Network-1 Security
Solutions, Inc., +1-212-829-5770
