Bluestone Innovations LLC received a multi-million dollar New Year’s cash infusion from KDB Capital (CEO: Insung Chung), a subsidiary of KDB Financial Group, one of the largest banks in South Korea and throughout Asia.
Bluestone is a Virginia-based patent licensing and enforcement company holding patterned-sapphire LED patents (originally developed by Xerox-PARC). The company has previously brought patent-infringement litigation against major global LED manufacturers in Taiwan, China, Germany and Japan in lawsuits filed in Texas, Florida, and California. Bluestone was also recently identified by RPX Corp. (Shoichi Endo) as among the most active non-practicing entities in the U.S. last year.
The addition of KDB Captial to Bluestone’s investor pool will enable “a fundamental shift in our licensing and enforcement strategy” says Jon Crocker, the new President of Bluestone Innovations LLC. “Previously, we had concentrated our efforts solely against foreign semiconductor chip manufacturers who practice the methods disclosed in our patents. Today, we are turning our attention to companies who incorporate LEDs into products imported and sold in the U.S.” said Crocker.
Recent technological advances in high-brightness LEDs, such as those disclosed in the Bluestone portfolio, have led to advances in a wide variety of consumer electronics including thin LED TVs, tablet computers, smart phones and even solid state general illumination lighting as the increased demand for green technology solutions sweeps the U.S. marketplace.
The patents in suit are 5,977,612; 6,605,832; and 6,163, 557. Bluestone Innovations is represented by Dean Niro of Niro of Niro, Haller & Niro of Chicago.