Temecula, CA , Dec. 31, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Hop-on, Inc. (OTC:HPNN) is announcing renewed efforts to help bring US and Asian companies into compliance with essential patent licensing and royalty requirements.
Despite job losses and other economic impacts, the consumer electronics market proved strong numbers in 2020 with over 400 Billion USD in retail revenues in the United States, closely matching projections set before the global pandemic took hold. Today’s modern devices include countless advanced patented technologies such as Nokia’s H.264 MP4 Advanced Video Codec that are protected by US and international intellectual property rights, but many companies are willfully refusing to license and pay royalties for those technologies.
With ITC cases mounting under the Trump administration as patent infringement and royalty enforcement were stepped up, and Biden and Harris making clear that their policies will “expand the legal tools available to American victims of trade theft”, intellectual property rights will continue to be an area of concern for companies that dump unlicensed products into the US market without paying their fair share of royalties.
Since 2001, Hop-on, Inc. has secured essential patent license agreements and worked with numerous foreign companies to mitigate their potential losses to market share and revenues from ITC injunctions, protracted litigation, and unfavorable post-infringement license negotiations. Companies large and small have been blocked from selling their products in the US, faced billions in royalties for their past infringements and go-forward payments well above FRAND rates. With such grave threats, companies need to act quickly to resolve their intellectual property licensing deficiencies to stay in the US marketplace.
“The reality is, over 50% of consumer electronics, computing, and integrated media systems coming from China into the US aren’t paying their fair share and are risking everything if they continue to operate the way they have been. Hop-on has the solutions and can make the transition to doing legitimate business in the United States as painless and transparent as possible, with limited impact to their bottom line. It’s just the right thing to do,” says Peter Michaels, CEO of Hop-on.
About Hop-on, Inc.
Hop-on, Inc. (HPNN.PK) is a global manufacturer of electronics, based in the United States. Over the past 20 years, Hop-on has successfully secured essential patents for mobile communications and computing technologies, and is respected for developing the world’s first disposable cell phone. Hop-on’s licensing capability allows OEM and ODM products to be sold in heavily regulated Western markets such as the United States and Europe as licensed products.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.