The RFID Consortium today announced that 3M (NYSE:MMM) has signed a definitive term sheet to join the group of companies involved with radio frequency identification (RFID) technology to form a patent licensing consortium. Working together, and with other potential patent holders, these companies are dedicated to promoting rapid adoption of RFID by facilitating easier access to essential patents, and to providing patent owners, including 3M, the opportunity to receive fair compensation for those patents.
"The addition of 3M in the formation of the RFID Consortium is yet another indicator that we are making substantive progress in our joint effort to create a patent licensing arrangement that benefits the RFID industry, its customers, and essential patent holders," said Kevin Ashton, a spokesperson for the RFID Consortium and vice president of Marketing for ThingMagic. "As with our other members, 3M offers unique technology and capabilities to the industry. With the addition of 3M, we can even better support the creation of new RFID applications and adoption of the technology."
"The RFID Consortium is key to facilitating the adoption of UHF RFID by providing efficient access to essential RFID intellectual property. 3M is excited to be part of the Consortium, because it encourages adoption of UHF RFID technology and creates a level playing field for every vendor involved," said Bob Anderson, business director, 3M Track and Trace Solutions. "3M has significant intellectual property in the RFID field and essential patents relative to the EPCglobal Generation 2 standards. Working with the Consortium promises to enable us and our customers to more easily benefit from the adoption of this innovative technology."
Joint licensing programs provide the market with a convenient and cost-effective way to obtain licenses to the patents essential to practice of a standard. By doing so, the programs encourage adoption of the standard. Without such a joint license, the process of providing and obtaining necessary licenses would be more cumbersome and expensive for all parties.
The proposed licensing program is being made available to all essential patent holders, regardless of whether they were involved in the development of RFID standards. Under the proposed licensing arrangement, all essential RFID patents owned by members of the RFID Consortium will be made available to interested companies via a single license on fair, reasonable and non-discriminatory terms.
Via Licensing Corporation will administer the patent licensing program on behalf of the RFID Consortium and its members. All patents are subject to review by an independent expert to determine essentiality prior to inclusion in the pool. For further information about becoming a member of the RFID Consortium, interested parties should call Tony McQuinn, Director of Licensing Programs and Business Development for Via Licensing at: tony.m@vialicensing.com; or, (415) 645-4737.
Bell, Boyd & Lloyd LLC attorneys William F. Dolan and Christopher A. Bloom, counsel, for the RFID Consortium represented the RFID Consortium in connection with this transaction.
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About the RFID Consortium
The RFID Consortium, which is currently being organized, will be comprised of companies involved with radio frequency identification (RFID) technology. The RFID Consortium's goals are to promote rapid adoption of RFID by facilitating easier access, by manufacturers and customers alike, to essential RFID patents and to provide patent owners the opportunity to receive fair compensation for those patents, all at a reasonable cost to the end-user.
For information about joining the RFID Consortium, e-mail rfidlicensing@comcast.net or call 312-807-4399.
KMC Partners for the RFID ConsortiumMedia Contact:Larry Bouchie, 617-758-4192larry@kmcpartners.comor3M Corporate CommunicationsMedia Contact:Colleen Harris, 651-733-1566cahornharris1@mmm.com
