NEW YORK, June 14, 2016 /PRNewswire/ -- Spherix
Incorporated (NASDAQ: SPEX) – a company committed to the fostering of technology and the monetization of intellectual property,
today commented on recent positive developments in the patent monetization space.
Anthony Hayes, Chief Executive Officer of Spherix, stated, "Yesterday's United States Supreme
Court Opinion and the recent discussion of the Yahoo Inc. patent portfolio sale comes as welcome news to our industry. In a
unanimous decision delivered by Chief Justice John Roberts in Halo Electronics, Inc. v. Pulse
Electronics, Inc., the United States Supreme Court yesterday issued a ruling that generally eased the test for the awarding
enhanced damages for willfully infringing a patent holder's rights. While the decision is still
being digested by practitioners and scholars, some who follow the industry viewed it as good news for entities that monetize
intellectual property. As compared to the old test used before this decision, the new test gives the courts much broader
discretion to award enhanced damages, which we see as a positive development."
In other news, we noted the Wall Street Journal's June 7, 2016 reporting that Yahoo Inc. has
kicked off an auction for a portfolio of about 3,000 patents expected to fetch more than $1
billion, according to people familiar with the matter," added Mr. Hayes. "While Spherix has not analyzed the Yahoo patents
at issue, the Yahoo sale has been compared to the Nortel Networks patent sale, which fetched $4.5
billion. Much of Spherix's patent portfolio came from Nortel and their value has been substantiated by our notable recent
licenses. We wish Yahoo the best in its efforts to monetize their assets and hope that these events remind the market of how
valuable patents can be to a company."
About Spherix
Spherix Incorporated was launched in 1967 as a scientific research company. Spherix is committed to advancing innovation by
active participation in the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and
support product innovation.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities
laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict,"
"forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations,
are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are based on information available to us on the date of this release.
These forward looking statements are based upon current estimates and assumptions and are subject to various risks and
uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission
(the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be
materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new
information, future events or otherwise, except as required by law.
Contact:
Investor Relations: Hayden IR
Brett Mass, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
Spherix: Phone: (703) 992-9325
Email: info@spherix.com
www.spherix.com
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SOURCE Spherix Incorporated