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MacroSolve Files Patent Infringement Suits Against Yelp and NeweggBrings Total Number of Complaints Filed to 52 as Company Defends Its Key Intellectual Property in Mobile App Space (February 15, 2012)
TULSA, OK -- (Marketwire) -- 02/15/12 -- MacroSolve, Inc., (PINKSHEETS: MCVE) (OTCQB: MCVE) ("MacroSolve" or the "Company"), a leading provider of mobile technologies, apps and solutions for business, today announced its latest patent infringement suits filed against Yelp, Inc., the operator of yelp.com, one of the largest social networking, user review and local search web sites, and Newegg Inc., the second-largest online-only retailer in the U.S.
MacroSolve has filed the patent infringement suits for violation of the Company's U.S. Patent No. 7,822,816. This marks the 52nd complaint filed by MacroSolve in an effort to protect its intellectual property rights. The Company continues to successfully settle suits.
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., the corporation behind Illume Mobile, is a pioneer in delivering mobile apps, technologies, and solutions. Leveraging its intellectual property portfolio, MacroSolve enforces its landmark patent, while Illume Mobile provides mobile app products and services. MacroSolve is positioned to become a leader in the mobile app space, 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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