12 November 2004 05:29 PM Zeitzone US-Pazifik
Technology Properties Ltd. Today Issued the Following Statement to Correct Potentially Misleading Information in a Press Release Issued Yesterday by Patriot Scientific Corporation
SAN JOSE, Calif.--(BUSINESS WIRE)--Nov. 12, 2004--The following is a statement issued by Technology Properties Ltd. (TPL):
TPL is engaged in litigation with Patriot Scientific Corporation involving the ownership of certain microprocessor patents. TPL has discussed settlement of litigation and other issues relating to commercialization and enforcement of the patents with representatives of Patriot. In the course of such discussions, TPL has presented various preliminary proposals for consideration, including the idea of acquiring Patriot's interest in the patents, in return for a cash payment and ongoing participation in revenues by Patriot. TPL has made no formal offer.
Relational Advisors LLP is acting as financial advisor to TPL and, in that capacity, has participated in discussions involving preliminary proposals of settlement. Contrary to the statement in Patriot's press release, Relational Advisors is not an investment fund and Relational Advisors is not seeking to obtain any Patriot rights on its own behalf.
TPL is a small, privately held Group tightly focused on the commercialization of selected proprietary product technologies.
Headquartered in Silicon Valley, the TPL Group has broad experience in the development and licensing of product technology for consumer electronics, computer equipment, and related industries. |