First of all, let's introduce the two companies: ObjectVideo (News - Alert), an intelligent video technology company that provides enhanced video software, particularly marketed to companies that use security; and Pelco, which provides surveillance hardware to various types of businesses.
Both of these companies were long-time best buddies in a very tight partnership. Their relationships deteriorated as time passed, and they eventually split when Pelco lost interest in ObjectVideo's products.
The lack of communication between the two companies has inevitably led to a complete demise of a relationship that would have otherwise empowered both of them. Upon the end of their partnership, ObjectVideo sued Pelco in May this year over infringement of its patents, used within Pelco's surveillance systems.
The complaint claims that Pelco violates four of ObjectVideo's patents.
This unexpected lawsuit is about to end, though, as ObjectVideo decides to settle five months after filing the motion. As a part of this settlement, ObjectVideo will be allowing Pelco to use its software. The company has specifically asked the United States International Trade Commission to stop any investigation regarding Pelco's new product line.
It's still going through a lawsuit with Samsung, Sony and Bosch, alleging that their use of video technologies that determine posture.
Raul Fernandez (News - Alert), ObjectVideo's chairman, said, "We are pleased to have entered into a global, portfolio-wide license agreement with Pelco and to have the benefit of a cross license to Pelco's intellectual pproperty."
Pelco will be the sixth company that joins in on ObjectVideo's patent licensing program. The other companies are Sony Corporation, Tyco Security Products and VIVOTEK.
At this point, the intelligent video software company owns 47 international and U.S. patents, and has 45 patents pending.
Edited by Braden Becker