In an interesting approach to patent dispute resolution, the out of home media company Monster Media and the social media visualization firm TINT have done a long-term patent and technology cross-licensing agreement.
The deal sees Monster licensing its LocaModa-derived social media display patent portfolio of five patents to TINT, and TINT has licensed the use of its social media content platform to Monster. The deal was done before any legal actions were filed.
“We’re delighted to have reached a pragmatic, commercial agreement that enables our respective businesses to gain full advantage of Monster’s patents,” says Tim Sae Koo, TINT’s CEO. “TINT can now offer customers the full protection of Monster’s patents and Monster can enhance its interactive solutions with TINT’s latest social and content display platform.”
“TINT has a powerful and flexible platform that Monster appreciates could enhance our interactive end-to-end solutions. Tim and I are both excited by the potential our cross-license deal has to benefit our respective businesses. I welcome discussions with any company interested in similar arrangements,” says Stephen Randall, EVP Mobile and Social Technologies at Monster Media, and the guy who through his old company LocaModa developed most of the intellectual property that’s been patent here.
Monster acquired LocaModa about three years ago.
TINT, for those not familiar, has a platform that allows clients to source and curate the relevant social content, and then display it across a variety of screens – from mobile to digital signage.