On August 5, 2010, Liquidmetal Technologies, Inc., a Delaware corporation (Liquidmetal), entered into a Master Transaction Agreement with Apple Inc., a California corporation (Apple), pursuant to which (i) Liquidmetal contributed substantially all of its intellectual property assets to a newly organized special-purpose, wholly-owned subsidiary (the IP Company), (ii) the IP Company granted to Apple a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in the field of consumer electronic products in exchange for a license fee, and (iii) the IP Company granted back to Liquidmetal a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in all other fields of use (together with all ancillary agreements, the Master Transaction Agreement).
Liquidmetal alloys represent the first enabling materials technology since the creation of thermoplastics and possess characteristics that make them superior in many ways to other commercially-viable materials. First, they have an "amorphous" atomic structure, which is unprecedented for structural metals. Second, they include a multi-component chemical composition, which can be optimized for various properties and processes. Finally, they lend themselves to process technology similar to that possessed by plastics.
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