Top Three Global Innovator ZTE Joins the United for Patent Reform Coalition
ZTE (News - Alert) Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, today announced their participation in the United for Patent Reform coalition. As one of the world's leading technology innovators and an IP owner itself, ZTE is committed to respecting the legitimate intellectual property of others in order to develop new and innovative technologies that provide value to consumers.
"Technology innovation is central to ZTE's business as evidenced by our expanded patent portfolio of more than 60,000 patents filed. This commitment to patent research allows us to deliver award-winning products to consumers and thus, grow our business globally," said Lixin Cheng, chairman and CEO, ZTE USA. "We hope that by joining other companies who share our mutual respect for intellectual property in the United for Patent Reform, we can encourage others to use their resources to develop new and innovative products for the consumer."
ZTE is constantly faced with upwards of 50 patent cases brought against the company at any given time by patent assertion entities which have no intent to manufacture products, and remains steadfast in its commitment to respecting the intellectual property of other companies and adhering to negotiating royalty fees with patent holders based on the FRAND (fair, reasonable and non-discriminatory) standard-setting process.
"We welcome ZTE to our coalition and the growing chorus of diverse businesses, startups, academics and policymakers who are calling for comprehensive patet reform legislation," said Beth Provenzano on behalf of the United for Patent Reform. "Data shows that the patent troll problem for American business is real, and a solution for our members and consumers is urgently needed. It is time Congress fix our patent system and return it to its original purpose: fostering innovation and investment that benefits the entire American economy."
By joining the United for Patent Reform, ZTE aims to connect with other companies who share similar experiences and sentiments towards intellectual property to create a system that fosters innovation and investment that benefits the American economy.
ZTE has invested more than $18.5 billion for U.S. components and intellectual property since 2007, and has signed numerous cross patent cross-licensing agreements with companies such as AT&T, Qualcomm, Siemens (News - Alert), Ericsson, Microsoft and Dolby. In addition to working with large firms, ZTE is committed to supporting innovative startups and other new market entrants through the Innovation Venture Fund, as a part of their continued effort to connect ambitious minds around the world to develop extraordinary consumer experiences.
ZTE is a provider of advanced telecommunications systems, mobile devices, and enterprise technology solutions to consumers, carriers, companies and public sector customers. As part of ZTE's M-ICT strategy, the company is committed to provide customers with integrated end-to-end innovations to deliver excellence and value as the telecommunications and information technology sectors converge. Listed in the stock exchanges of Hong Kong and Shenzhen (H share stock code: 0763.HK / A share stock code: 000063.SZ), ZTE's products and services are sold to over 500 operators in more than 160 countries. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in international standard-setting organizations. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. For more information, please visit www.zte.com.cn.
About United for Patent Reform
United for Patent Reform is a broad coalition of diverse American businesses-from national realty, construction, and technology businesses to Main Street retail shops, hotels, grocers, convenience stores, and restaurants-pursuing comprehensive solutions to abusive patent litigation. For more information, visit www.UnitedforPatentReform.com and follow us on Twitter (News - Alert) at @U4PatentReform.