QualityStocks News - WordLogic (WLGC) Sells Exclusive Licensing Rights to Legal Enterprise Solutions for $1 Million

QualityStocks would like to highlight WordLogic Corp. (OTCQB: WLGC). The company has leveraged more than 10 years of advanced R&D to assume its position as a global leader in predictive text input technology. Backed by multiple patents and its predictive engine, WordLogic’s interface is revolutionizing the way individuals and businesses search and communicate on touch screen devices. Furthermore, WordLogic offers a range of licensing options of its technology and patent portfolio.

In the company’s news,

WordLogic has sold the exclusive rights of its legal enterprise solutions to a Virginia-based private equity group, which has placed a non-refundable financial commitment to purchase the licensing rights.

Per the agreement, the equity group will effect a one-time payment of $1 million in exchange for exclusive rights to license WordLogic technologies in North America. In addition, the group will pay to WordLogic 10% royalty on all sales as well as 15% annual software maintenance fees on all sales.

WordLogic’s obligation will be to provide a commercial product utilizing its innovative iKnowU® and REACH™ technology to provide small- to medium-sized law firms a “better user-experience” in creating and researching legal documents.

Renowned for its award-wining predictive iKnowU® keyboard enriched with the innovative REACH™ technology, WordLogic has amasses an intellectual property portfolio that includes U.S. and European patents and numerous pending patent applications. The company’s advanced predictive platform software is designed to accelerate information discovery and text input on a wide variety of devices including smartphones, PCs, cell phones, Smart TV, media players, automotive navigational systems, infotainment and game consoles.

REACH™ technology enables users to remain in the core applications of their mobile phone while searching for other data. This means users no longer have to exit their core app to navigate through numerous other applications to obtain information such as directions, restaurant listings, ratings and reviews, travel information and other contextual data from Google or other mobile and content sites.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.