Patent Portfolio Growth - Worksport increased its global patent portfolio by approximately 25% in the last 12 months, including both issued patents and pending applications [1][2] - The patent growth supports the company's existing product lines and future offerings, such as the SOLIS solar tonneau cover and COR portable power system [2] - Terravis Energy, a wholly owned subsidiary, contributes to the innovation pipeline with proprietary assets in Cold-Climate Heat Pumps [2] Strategic Alliance with LOT Network - Worksport joined LOT Network, a global consortium with over 4,500 members and 4.8 million patents, to protect against patent assertion entity (PAE) litigation [1][3] - Membership grants automatic licensing of patents enforced by PAEs, safeguarding Worksport and its business ecosystem [3] - Over 50% of PAE litigation targets companies with less than $25MM in annual revenue, highlighting the importance of this alliance [4] Innovation and Industry Collaboration - Worksport emphasizes its commitment to innovation and fair IP practices, urging other companies to join LOT Network to foster industry-wide collaboration [5] - The company's IP growth aligns with its mission to address real-world customer challenges through innovative, user-friendly, and safe products [2][5] Product and Market Focus - Worksport designs and manufactures tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions [8] - The company has an active partnership with Hyundai for the SOLIS Solar cover and is gaining traction in the EV sector with its hard-folding cover [8] - Worksport aims to capitalize on the growing consumer shift toward clean energy integrations with its proprietary solar solutions and Cold-Climate Heat Pump technology [8]
Worksport Ltd. ($WKSP) Announces Global Patent Portfolio Growth, and Joins LOT Network for Enhanced Patent Protection