8-K with details of IWOV settlement
Item 8.01. Other Events
Vertical Computer Systems, Inc. (the “Company”) has settled the patent infringement claim that the Company was litigating in federal court against Interwoven, Inc. (“Interwoven). This matter has previously been disclosed under the heading “Legal Proceedings” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (the “2013 10-K”).
Pursuant to the confidential settlement agreement, the Company has granted to Interwoven and its subsidiaries, affiliates and parent companies (which include Autonomy Corporation PLC and Hewlett-Packard Company, Inc.), a non-exclusive, fully paid-up license under the two patents (referenced in the 2013 10-K as the “Patents-in-Suit”) which were the subject of this litigation, together with any continuation patents of the Patents-in-Suit and any other patents with the same priority claim as the Patents-in-Suit.
May 11, 2014
