Liquidmetal Technologies, a leading name in the research, development and commercialization of amorphous metals, has announced an extension of its agreement with Apple for an additional two years (via MacRumors). Apple has a full license to use all of Liquidmetal’s intellectual property for commercialization in consumer electronics. The rights were acquired by Apple in 2010 after testing the material in the iPhone 3G SIM eject tool. With the new agreement, these rights have now been extended till February 5, 2014.
Detailing from the source:
Under the MTA [Master Transaction Agreement], the Company was originally obligated to contribute to Crucible Intellectual Property, LLC, a special purpose subsidiary of the Company, all intellectual property acquired or developed by the Company through February 5, 2012, and all intellectual property held by Crucible Intellectual Property, LLC is exclusively licensed on a perpetual basis to Apple for the field of use of consumer electronic products under the MTA. Under the Amendment, the parties agreed to amend the MTA to extend the February 5, 2012 date to February 5, 2014.
The foregoing does not purport to be a complete description of the Amendment and is qualified by reference to the full text of such agreement, which will be filed with the Company’s next Quarterly Report on Form 10-Q.
Experts believe that a broader use of Liquidmetal’s alloys, which offer improvements in strength and durability over current alloys is still a few years away.