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June 1, 2013
14:51 EDTDMRCDigimarc submits disputes with intellectual ventures to arbitration
Digimarc announced that it triggered arbitration under the provisions of its Patent License Agreement with Intellectual Ventures to resolve ongoing disputes relating to Intellectual Ventures' calculation of potential profit sharing payments under the Agreement. As previously disclosed in our filings with the SEC, the agreement provides that when informal attempts to resolve disputes fail, the parties will submit disputes to final and binding arbitration. Unless otherwise agreed by the parties, the terms of the arbitration provision include that the arbitration is limited to one business day; the award shall be rendered within one hundred twenty,120, days of the arbitration demand; the arbitrators' award may be entered and enforced in any court with competent jurisdiction; and the award will be non-appealable. For more detail, refer to Section 11.9c of the agreement, filed as a material agreement with the SEC on March 3, 2011.
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