[ACCESSWIRE]
NEW YORK, NY / ACCESSWIRE / May 6, 2016 / Spherix Incorporated (NASDAQ: SPEX) an intellectual property company that owns patented and unpatented intellectual property, recently announced that the Company had executed an additional agreement to monetize the Nortel patents with Equitable IP Corporation, a leading patent enforcement and monetization fund. Anthony Hayes, CEO of Spherix, said, "We are pleased to announce an additional agreement with our partners at Equitable. This cooperative effort will allow Spherix and Equitable to work together to monetize the substantial value of our patent portfolio. By commencing their work and legal initiatives before May 1, 2016, Equitable will be the beneficiary of a measured yet robust incentive arrangement. Of the 10 new suits that we expect to file, at least seven must apply to the Nortel patents, while two must be against licensees that have public market capitalizations in excess of $1 billion. As stated in our recent shareholder letter, this new agreement helps to broaden potential revenue generation for our shareholders."
With the good news hitting the street, the share price for this NASDAQ company remained in a sideways corridor. Will it finally breakout of this funk?
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