VANCOUVER, British Columbia, Jan. 5, 2011 (GLOBE NEWSWIRE) -- Frank Evanshen, CEO of WordLogic Corporation (OTCBB:WLGC) today announced that an initial patent infringement study has been performed by San Diego-based Thibault Patent Group under the direction of WordLogic Mobile Technology Director Michael Flom. Based on the study, WordLogic estimates that as many as 77 million infringing products were sold during 2010 in the U.S. alone, potentially worth up to $19 million in licensing royalties.
"We intend on monetizing our patent portfolio by initiating licensing negotiations with a number of technology companies who we believe to be unfairly benefiting from our intellectual property," says Mr. Evanshen. "We are prepared to take whatever legal steps are necessary to protect our valuable intellectual property rights."
WordLogic also continues to market its current products, while staying on the cutting edge in product development.
The patent infringement study reveals that many popular electronic products, such as smartphones, PC Browsers, media players, and other devices, infringe Wordlogic's patents.
"This initial patent infringement study underscores our ongoing commitment to continually evaluate the marketplace to identify infringing products," explains Mr. Evanshen. "Thus, we may find that, in the future, the number of infringing products may increase, and with it potential royalties owed to WordLogic."
"The study also found that the number of products produced annually that may infringe on our patent portfolio is steadily increasing," says Mr. Evanshen, noting that, "In 2011, we expect up to 82 million infringing products to be shipped in the U.S., creating potential licensing royalties of up to $20.5 million USD."
"By year-end 2014, we project that the cumulative number of infringing products in the marketplace will reach as many as 1.4 billion units worldwide, with potential cumulative licensing royalties of up to $360 million USD. This amount does not take into account possible treble damages for willful infringement," says Mr. Evanshen.
WordLogic (www.wordlogic.com) is the developer of patent-protected predictive text software used in input and Internet-based search applications. WordLogic offers advanced methods of text and information entry into personal computing devices ranging from small handheld mobile devices like smartphones to tablet and desktop computers. "WordLogic patents have real inherent value, based not only on their massive number of applications in the marketplace today, but also future applications," according to Mr. Evanshen.
WordLogic has six additional patents pending with the USPTO.
For more information about WordLogic Corporation, visit www.wordlogic.com. To send a message via Twitter, contact us at www.twitter.con/wordlogiccorp. or visit us on Facebook, www.facebook.com/wordlogiccorp. WordLogic headquarters is located at 1130 West Pender Street, Suite 230, Vancouver, BC, Canada. Telephone: 1.866.WORDLOGIC (main office); Frank Evanshen, CEO, 1 +604.257.3660, fevanshen@wordlogic.com; Roger Sichel, Director of Business Development, 1 + 914.589.5848, rsichel@wordlogic.com.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements and are subject to risks and uncertainties. See WordLogic's filings with the US Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.