QPX qpsx limited

new legal case

  1. 159 Posts.
    Are JP Morgan still a shareholder???

    QPSX aids partner in US bank action

    By Fran Spencer



    PERTH-BASED patent enforcer QPSX is taking on global banking giant JP Morgan Chase & Co in its latest copyright crusade, kicking off a new global licensing program the company claims has the potential to bring it billions of dollars in revenue.

    QPSX said yesterday its software development partner, Financial Systems Technology, had launched a US lawsuit against JP Morgan Chase Bank and an associated technology affiliate for "breach of contract, copyright infringement, misappropriation of other intellectual property rights and other breaches".

    "QPSX has a co-operation agreement with FST whereby QPSX will provide assistance in relation to the lawsuit," the company said.

    QPSX did not reveal the size of the lawsuit, or the possible return to the company. The company's chief executive officer, Graham Griffiths, is overseas and could not be contacted yesterday.

    QPSX flagged the lawsuit in April, when it told the market it had targeted a major US-based company as part of its new enterprise data management (EDM) licensing program.

    At the time, the company said the EDM program represented "significant revenue potential" to the company, with global EDM sales expected to hit $560 billion by the patent expiry date of 2018.

    The EDM technology has the ability to increase the speed and efficiency of a database management system and, according to QPSX, provides a "significant leap in design" over conventional techniques.

    The company has stated it intends to go after users of large-scale EDM systems, such as financial institutions and leading EDM vendors such as Oracle, IBM and Microsoft.

    Any royalties collected by QPSX will be split with FST, which did the research and development.

    QPSX claims revenues from the EDM program have the potential to surpass the company's flagship SAR technology, which covers the segmentation and reassembly of email messages.

    QPSX shares yesterday closed unchanged at 42¢.

 
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