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Research In Motion and NTP Settle to End Litigation
Posted on 4-Mar-2006 18:05. | Tags Filed under: News.

Research In Motion and NTP Settle to End Litigation
Research In Motion Limited and NTP, Inc. have signed a definitive licensing and settlement agreement. All terms of the agreement have been finalized and the litigation against RIM has been dismissed by a court order this afternoon.

The agreement eliminates the need for any further court proceedings or decisions relating to damages or injunctive relief, meaning that RIM is free to continue providing its BlackBerry service to USA-based clients.

RIM has paid NTP US$612.5 million in full and final settlement of all claims against RIM, as well as for a perpetual, fully-paid up license. This amount includes money already escrowed by RIM to date.

The licensing and settlement agreement relates to all patents owned and controlled by NTP and covers all of RIM's products, services and technologies. NTP grants RIM an unfettered right to continue its business, including its BlackBerry related business.

The resolution permits RIM and its partners to sell RIM products and services completely free and clear of any claim by NTP, including any claims that NTP may have against wireless carriers, channel partners, suppliers or customers in relation to RIM products or services, (including BlackBerry Connect and Built-In technology), or in relation to third party products and services.

According to RIM, as of 26 November 2005, the company's total of cash, cash equivalents, short-term, long-term investments and escrow funds was approximately US$1.8 billion.

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