CopyTele, Inc. has reportedly entered into an agreement with ZQX Advisors, LLC, a Minnesota limited liability company engaged in the business of assisting CopyTele (News - Alert), to seek business opportunities and licenses for its electrophoretic display technology (E-paper) and its related intellectual property, particularly its patent portfolio.

 

Under the deal, ZQX Advisors will receive an agreed to percentage of any proceeds CopyTele receives on its electrophoretic display technology, as compensation for its services.

 

CopyTele’s principal operations include the development, production and marketing of its thin flat low voltage phosphor displays and the development, production and marketing of multi-functional encryption products, hardware and software based, that provide information security for domestic and international users over virtually every communication media.

 

Back in April 2008, CopyTele announced that the Indian Government approved the previously announced License Agreement between CopyTele and Videocon Industries Limited of India under which Videocon will manufacture and market products, including TVs, utilizing CopyTele's display technology.  

 

The approval of the Indian Government was the sole condition to effectiveness of the License Agreement. Under the License Agreement, CopyTele will receive a license fee of $11 million from Videocon and a royalty based on display sales by Videocon. The license fee is payable in installments over a 27-month period, with the first installment of $2 million payable within 15 days.

 

Videocon Industries Limited is the $3.5 billion flagship company of the Videocon Group, one of India's leading business houses. Videocon Group is a fully integrated consumer electronics and home appliances enterprise with backward integration in plasma panel, CRT glass, color picture tubes and other key components for the consumer electronics, home appliances and components industries.

 

The company also operates in the oil and gas sector through its 25 percent participating interest in Ravva Oil Field which produces 50,000 barrels of oil per day. The group also has participating interests in exploration activities in Oman, Timor, Brazil, and Australia.