Quest Patent Research Corp. (QPRC) Committed to Protecting Financial Data System, Takes Apple to Court on Patent Infringement Charges

• The company partnered with an inventor to obtain reissue patent US RE38,137, titled ‘Programmable Multiple Company Credit Card System’, issued in 2003 with 35 claims
• The original patent application for the novel technology was filed in September 1995, with patent protection first granted in U.S. Patent 5,859,419, issued in January 1999
• The company has filed a lawsuit against Apple, accusing the tech giant of unauthorized manufacture, use, offer for sale, sale and/or import of products that embody the inventions of US RE38,137

New York City-based intellectual property (IP) asset management company Quest Patent Research Corp. (OTCQB: QPRC) is fully committed to supporting individual inventors and small companies protect and monetize their innovations by partnering with them in prosecuting patents, identifying monetization opportunities and protecting them from patent infringement or IP theft. Operating through majority-owned and controlled subsidiaries, Quest Patent Research’s commitment is clearly illustrated by a recent case involving a universal financial data system technology currently in its portfolio and which Quest maintains has been infringed by Apple Inc. (NASDAQ: AAPL).

In 2000, the company partnered with the named inventor of U.S. patent 5,859,419, Silicon Valley engineer Sol H. Wynn, currently Sol M. Li – a hardware and firmware engineer with more than 30 years of experience in design and architecture, training junior engineers and technicians, digital electronic theory and its applications. He holds five U.S. Patents to directed to several of his technological innovations as well as international patents in China, Taiwan and India. With the help of Quest, a reissue application was filed in 2001 and an additional 22 claims were granted in 2003.

According to the specification of the patent, the invention disclosed in the patent “relates generally to financial data systems. More particularly, the invention relates to methods and apparatus for a universal financial data system, part of which advantageously serves as a highly portable cash substitute that is also capable of electronically compiling, storing and retrieving data related to multitudes of financial accounts and transactions in real time as the transactions occur.”

Lawsuit Against Apple

On April 12, 2019, Quest NetTech filed a lawsuit against Apple Inc. alleging willful and deliberate infringement of US RE38,137.

As per the complaint filed with the court, the accused devices include “electronic devices such as, but not limited to the iPhone 6 (hereinafter the “Accused Devices”). The Accused Devices, together with Apple’s software components such as, but not limited to, Apple Pay, iOS 8, iOS 9, and/or iOS 10 are configured to interact with Apple’s servers which provide the Apple Pay service, among other services provided by Apple and utilized by Apple’s customers when operating the Accused Devices. The complaint also states that “NetTech has not licensed or otherwise authorized Apple to make, use, offer for sale, sell, or import any Accused Devices and/or products that embody the inventions of the RE38,137 Patent.” The case is pending in the U.S. District Court for the Eastern District of Texas; Case No. 2:19-cv-00118-JRG.

According to Quest Patent Research, this action further demonstrates the company’s commitment to helping owners monetize compelling IP, as well as its recognition of forward-thinking technology, given that the products accused in the lawsuit significantly post-date the patented invention.

Currently owning, controlling and managing over 115 patents across 11 intellectual property portfolios, Quest Patent Research specializes in mature and emerging technologies and is dedicated to providing IP asset owners and stakeholders the opportunity to participate across a broad portfolio of dynamic assets in the intellectual property space.

For more information, visit the company’s website at www.QPRC.com

NOTE TO INVESTORS: The latest news and updates relating to QPRC are available in the company’s newsroom at http://nnw.fm/QPRC

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