REVO Plans to Initiate Litigation and Seeks Royalties and Fees from Distributors and Users
Charlotte, NC / ACCESSWIRE / July 30, 2014 / Revolutionary Concepts Inc., (OTCPink: REVO) (PHINKSHEETS: 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.
Patent infringement is a legal determination that another company, person or entity committed a prohibited act in violation of the rights and claims of the owner of the patented invention. 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. The system is designed to provide nationwide protection and monitoring of homes and businesses against multiple threats including robbery, fire, theft, burglary and other intrusions through mobile phones, wireless video and remote smart camera security technology. The "EyeTalk" System is projected to revolutionize the mobile and online security services market and provide an unprecedented level of wireless communication, property protection, interactive services and security solutions. The "EyeTalk" system will interface with smart devices such as iPhone, iPad, Blackberry and Andriod, and represents the new frontier in the use of wireless smart devices for protection and security.
REVO's Senior Vice President, Solomon Ai says, "We believe everyone has a fundamental right to fully protect their valuable patents, copyrights and other intellectual property. Additionally, we feel everyone should support and protect the rights of others and their intellectual property also. The laws are very clear on this in the United States, and in many countries around the world that have a high regard for law, and that respect the property rights of others. We believe we have identified a number of companies that have violated our patents, and they believe that they don't have to play by the rules. They have been using our intellectual property without our permission. This has resulted in a great loss of revenues, profits, and has been very damaging to our company and our shareholders. Well, that's about to change as we aggressively pursue these companies and our legal options in these issues. We plan to recover the royalties and licensing fees that are rightfully due our Company and our shareholders. We will be providing more information regarding this issue to our shareholders in the future."
About Revolutionary Concepts Inc.
REVO's primary business is the design and development of the "EyeTalk" Communicator technology, a mobile video, remote smart camera security technology. The system is designed to provide nationwide protection and monitoring of homes and businesses against multiple threats including robbery, fire, theft, burglary and other intrusions through mobile phones, wireless video and remote smart camera security technology. REVO holds patented and patent pending applications that utilize the technology in medical/healthcare, sporting events, child monitoring and several other key areas. For more information visit www.revolutionaryconceptsinc.com.
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Revolutionary Concepts Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
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SOURCE: Revolutionary Concepts Inc.