Benzinga | Aug 9, 2021 01:06PM EDT

Network-1 Says Receives New Patent From U.S. Patent Office Expanding Its M2M/IoT Patent Portfolio To Include 30 Issued U.S. Patents

Network1 Technologies, Inc. (NYSE:NTIP), a company engaged in the development, licensing and protection of intellectual property, announced earlier this week that the U.S. Patent and Trademark Office issued U.S. Patent No. 11,082,218 (Key Derivation for a Module Using an Embedded Universal Integrated Circuit Card). The claims in the newly issued patent are generally directed towards a module for communicating between Machine-to-Machine modules and servers.

The newly issued patent arises from a patent application contained in the M2M/IoT patent portfolio acquired by Network-1 in December 2017 (the "M2M/IoT Patent Portfolio"). The M2M/IoT Patent Portfolio relates to, among other things, the enabling technology for authenticating and using embedded SIM cards in next generation IoT, Machine-to-Machine, and other mobile devices, including smartphones, tablets and computers as well as automobiles. With this latest issuance, the M2M/IoT Patent Portfolio now includes thirty (30) issued U.S. patents and six (6) pending U.S. patent applications, plus two issued non-U.S. patents and ten (10) pending non-U.S. patent applications. The patent terms of the MTM/IoT Patent Portfolio are currently expected to extend until 2033-2034. Network-1 anticipates further issuances of additional claims for the M2M/IoT Patent Portfolio.