magicJack VocalTec Purchases Business VoIP Patent from Intellectual Ventures
magicJack VocalTec, a provider of business VoIP phone solutions including a softphone and the magicJack, has just completed a patent deal with Intellectual Ventures (IV).
As part of the multi-part invention rights agreement, magicJack VocalTec has purchased a Voice over Internet Protocol (VoIP) patent from Intellectual Ventures and will be granted access to tens of thousands of patens from IV's portfolio.
The VoIP patent was originally invented by VocalTec and then sold to an IV company back in 2008 (before magicJack merged with VocalTec).
"This new agreement extends a long and productive relationship between IV and magicJack VocalTec. We are able to acquire an asset, previously sold to an IV company, that is important to protecting technology at the heart of our VoIP products and services," said Dan Borislow, CEO of magicJack VocalTec, in a statement.
"By working with IV, we have fortified our intellectual property foundation further protecting our business,” Borislow added. “Small technology companies in our space often find it difficult to grow into meaningful businesses without the help of companies like Intellectual Ventures."
As part of this newly inked deal, magicJack VocalTec also joins as a member of IV's strategic defense program, known as IP for Defense (IPFD). By subscribing to IPFD, companies are able to access patents from Intellectual Ventures' portfolio to defend themselves against threats of patent litigation.
"We aim to work with innovative companies like magicJack VocalTec as part of IV's program to help small- and medium-sized businesses access IP to meet their invention needs," said Ken Lustig, vice president of Global Licensing at Intellectual Ventures, in a statement.
"This agreement builds upon an already successful relationship with magicJack VocalTec and Dan Borislow, an early inventor in the VoIP space, and both companies are well positioned in this rapidly growing industry," Lustig added.
Moreover, the VoIP patent allows magicJack VocalTec to compete in the flourishing business VoIP market.
Business VoIP systems are much more affordable than traditional phone systems and these solutions deliver many state-of-the-art features which are often not available in outdated communications systems. A business VoIP phone system also gives companies complete control over how incoming and outgoing calls are processed.
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Edited by Jamie Epstein