NEW YORK, NY / ACCESSWIRE / July 27, 2021 / Network-1 Technologies, Inc. (NYSE MKT:NTIP) announced today that it has agreed to settle its patent litigation against Hewlett-Packard Company and Hewlett-Packard Enterprise Company (collectively, "HP") pending in the United States District Court for the Eastern District of Texas, Tyler Division, for infringement of Network-1's Remote Power Patent (U.S. Patent No. 6,218,930). Under the terms of the settlement agreement, Hewlett-Packard Enterprise Company has agreed to pay Network-1 $17,000,000 in full settlement of the litigation and HP will receive a fully paid license and release to the Remote Power Patent for its full term (which expired on March 7, 2020), which applies to sales of Power over Ethernet ("PoE") products by HP and its wholly owned subsidiary Aruba Networks, Inc.
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