Network-1, Cisco Strike $32M Deal Over Ethernet IP

Law360, New York (July 19, 2010, 5:12 PM EDT) -- Cisco Systems Inc. and other defendants have agreed to pay at least $32 million to settle Network-1 Security Solutions Inc.'s patent infringement suit over Ethernet power technology.

Network-1 said Monday in a statement that it would grant nonexclusive licenses to the settling defendants until March 2020, when the patent-in-suit expires, in exchange for $32 million in immediate payments and potentially millions more in future royalties, ending those companies' part in litigation in the U.S. District Court for the Eastern District of Texas.

Cisco signed the licensing...
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