Fangdd Network Group (DUO) has released an update.
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Fangdd Network Group Ltd., a company based in the Cayman Islands, has entered into a patent purchase agreement with a British Virgin Islands company to acquire a portfolio of patents for $35 million, with additional future earnout payments contingent on revenue generated through 2026. The deal includes not just the patents but also associated royalties, claims, and legal protections worldwide. The comprehensive agreement also outlines the seller’s commitments to maintain patent validity and the steps to ensure the proper transfer and recordation of the acquired rights.
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