Revolutionary Concepts Inc., (OTCPink: REVO), a publicly traded company that develops online mobile video software and remote security communication systems, announced that it has been searching for companies that have infringed on its intellectual property and has identified the first group of companies that have violated its patents.
The Company plans to legally pursue these companies to recover the royalties and licensing fees they believe are rightfully due to REVO.
On February 12, 2014, REVO announced that it signed an agreement with a company that acquired an exclusive global license from REVO to commercialize REVO’s online patented wireless mobile security alarm services system.
REVO projects that the transaction could generate an estimated $20 to $30 million in long-term revenues for the Company through residual and ongoing licensing fees and royalties.
Under the terms of the agreement, the Licensee will bear all legal costs to prosecute and defend the patents in any infringement actions.
REVO asserts that there are many companies, manufactures, and distributers that have violated one or more of its patents.
REVO developed the “EyeTalk Communicator,” a wireless mobile video, remote smart camera security technology. […]Source: money.ca