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MacroSolve Files Patent Infringement Suit Against GEICO(February 21, 2012)
TULSA, OK -- (Marketwire) -- 02/21/12 -- MacroSolve, Inc., (PINKSHEETS: MCVE) (OTCQB: MCVE) ("MacroSolve" or the "Company"), a leading provider of mobile technologies, apps and solutions for business, today announced it has filed a patent infringement suit against GEICO Insurance Agency, Inc., GEICO Casualty Company, and Government Employees Insurance Company, all wholly owned subsidiaries of Berkshire Hathaway, Inc. (NYSE: BRK.A) (NYSE: BRK.B) for violation of MacroSolve's U.S. Patent No. 7,822,816.
"Our patent underlies mobile apps that are deployed today across virtually all industries, including insurance. With this suit and others which we've already filed, we will continue to protect our intellectual property rights," stated MacroSolve Vice Chairman Jim McGill.
MacroSolve's lawsuit against GEICO and its affiliates claims that, "Defendants, directly or through intermediaries, made, used, imported, provided, supplied, distributed, sold and/or offered for sale products and/or systems (including at least their GEICO mobile application product and/or service) that infringed one or more claims of the '816 patent and/or defendants induced infringement and/or contributed to the infringement of one or more of the claims of the '816 patent by their customers."
On October 26, 2010, the United States Patent and Trademark Office issued U.S. Patent No. 7,822,816 to MacroSolve. The patent, a significant intellectual property asset to MacroSolve, further advances its position as a leader in the mobile solutions market. The patent addresses mobile information collection systems across all wireless networks, smartphones, tablets, and rugged mobile devices, regardless of carrier and manufacturer, and is currently utilized in MacroSolve's rapid mobile app development platforms. MacroSolve's patent covers fundamental technology in the mobile application space utilized by multiple companies.
MacroSolve, Inc., doing business as Illume Mobile, is a pioneer in delivering mobile apps, technologies, and solutions. Leveraging its intellectual property portfolio, MacroSolve enforces its landmark patent while providing mobile app products and services under the name Illume Mobile. MacroSolve is positioned to become a leader in the mobile app space, which is projected to become a $17.5 billion market in 2012 according to Chetan Sharma Consulting. For more information, visit www.illumemobile.com.
Safe Harbor Statement
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.
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