Teknowledge and SAP Settle Patent Dispute
PALO ALTO, Calif., Apr 19, 2001 /PRNewswire via COMTEX/ -- Teknowledge Corporation (Nasdaq: TEKC chart, msgs) today announced a full settlement of all outstanding lawsuits with SAP America, Inc. and SAP Aktiengesellschaft. The subjects of the lawsuit were Teknowledge's U.S. Patent 4,591,983, entitled "Hierarchical Knowledge System" issued May 27, 1986, and U.S. Patent 4,783,752, entitled "Knowledge Based Processor for Application Programs Using Conventional Data Processing Capabilities" issued November 8, 1988.
As part of the settlement agreement, SAP transferred to Teknowledge $750,000 in cash. Teknowledge agreed not to commence any patent infringement suits against SAP relating to any of Teknowledge's patents, and both parties agreed to dismiss their current claims against each other.
Neil Jacobstein, President and CEO of Teknowledge, said, "We are pleased to have settled our dispute with SAP regarding the '983 and the '752 patents. We believe that given all the circumstances, this was a win/win for both sides. Now that SAP and Teknowledge have entered into this agreement, Teknowledge intends to contact other companies in the sales configuration and automation industry regarding patent licensing opportunities and terms."
About Teknowledge Corporation
Teknowledge sells software product and service solutions, and is increasingly focused on the financial services industry. Teknowledge designs intelligent transactions that deliver flexible, secure, and knowledge-based interactions with customers. These transactions enable organizations to codify their knowledge, use it to interpret data, and provide value-added services to end-users. Teknowledge delivers the TekPortal(TM) account aggregation solution for financial institutions. It has an extensive and funded R&D program in security, distributed objects, training, and knowledge systems. Teknowledge is 19 years old, and has been profitable for the past 26 consecutive quarters. It has an active intellectual property program with a portfolio of nine key software patents. More information about Teknowledge may be found at www.teknowledge.com.
Source: Teknowledge Corporation
Contact:
Dennis Bugbee of Teknowledge Corporation, 650-424-0500,
ext. 361, or dbugbee@teknowledge.com
URL: teknowledge.com |
