Voip-Pal: A Potential Financial Winner in the Patent Legal Wars
In an Interview with CEOCFO Magazine and Stock-Sector, Malak Explains How Voip-Pal's Strong Patents Are Expected to Lead to Settlements with Major Tech and Telecom Companies - Bringing Big Returns to His Shareholders
April 10, 2017 -- (NEW YORK, NY / ACCESSWIRE) CEOCFO Magazine and Stock-Sector.com, an online source of news about promising medical, technology and energy companies, today released an interview with Emil Malak, CEO & Director of Voip-Pal.com Inc (VPLM).
In the interview, Malak described how his team developed and patented the key technology for routing phone calls and messages between the internet and legacy telephony and how Voip-Pal is now suing major tech and telecom companies for billions of dollars for infringing those patents. "We will win because we have the technology," Malak told Stock-Sector.
Voip-Pal has already won an important battle. After suing Apple, AT&T, Verizon, and Twitter for $9.7 billion, plus punitive damages, Unified Patents petitioned the U.S. Patent Office to disqualify Malak's patents. (Unified Patents is a company set up by Silicon Valley companies as well as companies from other industries specifically to fight on their behalf against patent infringement lawsuits). Voip-Pal won. Now, Malak is waiting for the resolution of two similar petitions filed by Apple, which he also expects to win.
The tech and telecom companies have accused Malak of being a patent 'troll:' someone who seeks out obscure patents in order to file dubious lawsuits against deep-pocketed companies.
"Don't tell me I am a patent troll," Malak told Stock-Sector. "Voip-Pal is a patent inventor."
The record bears this out. As Malak explained, he got the idea for routing telephone calls over the Internet from engineers who walked into his Vancouver, BC restaurant back in 2004. "I thought they were crazy at first," he said. But he quickly realized that Internet telephony was the wave of the future, so he helped create, and raise $16 million for, a company, Digifonica, to develop the hardware and software for seamlessly transferring calls and messages from the Internet to landlines and cell networks. When Digifonica ran into financial difficulties in the 2008 recession, Malak bought the company in 2011 for $1.00 assuming over one million dollars of liability and rolled it into Voip-Pal. He knew that the provisional patented technologies would eventually be allowed by the USPTO and would be enormously valuable.
He was right. "Right now billions of subscribers are using our system," Malak told Stock-Sector. The major tech and telecom companies refused to talk with Voip-Pal about licensing the patents, forcing Malak to sue for patent infringement. "I'm not asking for 100% of the hundreds of billions they made using our technology," he said. Instead, "I'm hopeful we can settle, and our shareholders will get a fair share."
See the full video interview here.
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