Shares of Zecotek Photonics (TSXV:ZMS) are up today after the company received what it believes are favourable terms in the Markman Hearing that was held last July in its case against multinationals Saint-Gobain and Philips.
The lawsuit, filed on February 23, 2012, alleges that Saint-Gobain’s LYSO crystals infringe Zecotek’s patent, and that Philips infringes by using those crystals in the PET scanners it sells.
“We are very pleased with the court’s interpretations of key terms presented at the Markman hearing,” said CEO Dr. A.F. Zerrouk. “We remain confident in our position and look forward to a just resolution of this action.”
A “Markman Hearing”, aims to determine the use of relevant key words in a patent claim. The procedure has become commonplace in the U.S. Supreme Court since the 1996 case of Markman v. Westview Instruments, Inc., found that the language of a patent is a matter of law for a judge, not a jury, to decide.
The trend of companies monetizing their intellectual property has exploded in the past few years, and Markman hearings have been seen by certain investors as key catalysts. In the U.S., companies such as Vringo (NASDAQ:VRNG) and Parkervision (NASDAQ:PRKR) saw their share prices lift off after announcing Markman hearing dates against Google and Qualcomm, respectively.
At press time, shares of Zecotek were up 14.3% to $.80.
Disclosure: Zecotek is an annual sponsor of Cantech Letter.