Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the
“Company”), today announced that it has hired Mr. Nilay Choksi, the
Company’s first in-house intellectual property (IP) counsel, to
provide investors with the highest level of protection for the
Company’s growing portfolio of intellectual property and
proprietary technologies, which it considers amongst the Company's
most valuable assets. Choksi, a leading IP attorney, has supported
domestic and international clients and portfolios for over a
decade, protecting complex technologies and global brands through
intellectual property.
Most recently, Choksi was IP Counsel in the
Personal Health division of Philips, where he was responsible for
IP protection and enforcement related to grooming, beauty and
mother and childcare technologies in the U.S., including Norelco-
and Avent-branded products. He also led U.S. brand protection
efforts for the broader Philips brand and product lines, including
instituting additional anti-counterfeiting measures across
e-commerce platforms and taking action criminally,
administratively, and civilly. He holds a J.D. from Emory
University (2011) and a Bachelor of Science from Xavier University
(2008).
“We are very honoured that an intellectual
property counsel as experienced as Nilay Choksi has joined
Worksport," said Worksport CEO Steven Rossi. "We consider the
Company’s intellectual property to be a vital asset to protect the
exclusivity of our technology, defend our path forward, and provide
licensing potential. We look forward to having such a highly
experienced attorney on our growing team. Nilay will make sure we
control and protect our present and future proprietary intellectual
property as our product portfolio expands significantly."
Rossi noted that the Company relies on a
combination of “patents, trademarks, copyrights, and trade
secrets,” as well as confidentiality agreements and nondisclosure
agreements, to establish and protect the Company’s valuable
intellectual property and other proprietary rights. “Our current
and future success depends in large part on our proprietary
technology, the intellectual skills of our employees, and the
ability of our employees to continue to innovate,” Rossi said. "We
hold innovation at the Company’s core as a key factor in providing
intelligent solutions in the automotive accessory aftermarket and
the rapidly evolving and dynamic renewable energy space.”
Worksport owns domestic and foreign patents
protecting the Company’s current line of soft tonneau covers,
including those related to latch assemblies, catch-and-release
mechanisms, and attachment systems between tonneau cover frames and
pickup truck beds. There is also a strong foundation that protects
future products, including not-yet-published utility and design
patent applications that are directed to the innovative structure
and function of the Company’s SOLIS solar-integrated and hard
tonneau covers, COR battery systems, and EV charging stations.
“We have also filed patent applications in
adjacent technical areas that may have potential both for
next-generation Worksport products and for revenue-generating,
licensing opportunities,” Rossi said. “With Nilay as our new
experienced in-house IP counsel, we will be designing and
implementing a global IP strategy, a strong and important step
toward defending and enforcing Worksport IP, and harvesting more
innovation and patentable subject matter from our engineers and
leaders.”
The Company continues to carry out its stated
mission of making a difference in the environment, with its
pioneering products, ranging from its highly anticipated SOLIS
(Solar) tonneau cover, COR mobile battery generator, with advanced
hot swap technology, and its new lineup of hard folding light truck
bed covers, all of which contain innovations in design, lean
manufacturing, and sustainability.
Worksport management hopes to update
shareholders shortly on the outcome of recent inspections of its
automated manufacturing lines. Inspections took in various
locations throughout the European Location and have recently
concluded, pending final approval.
About
Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP), through its
subsidiaries, designs, develops, manufactures, and owns the IP on a
variety of tonneau covers, solar integrations, and NP
(Non-Parasitic), Hydrogen-based true green energy solutions for the
sustainable, clean energy, and automotive industries. Worksport
Ltd. seeks to capitalize on the growing shift of consumer mindsets
towards clean energy integrations with its proprietary solar
solutions, mobile energy storage systems (ESS), and NP
(Non-Parasitic), Hydrogen-based technology. For more information,
please visit www.worksport.com
Connect with
Worksport:
Please follow the company’s social media
accounts on Twitter, Facebook, Linkedin, YouTube, and Instagram, as
well as sign up for the company’s newsletters at www.worksport.com.
Worksport Ltd. strives to provide frequent updates of its
operations to its community of investors, clients, and customers to
maintain the highest level of visibility.
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Steven ObadiahInvestor RelationsWorksport Ltd.
T: 1-(888)
506-2013E: investors@worksport.comW: www.worksport.com
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information contained herein may contain "forward looking
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about future events. When used in this press release, the words
"anticipate," "believe," "estimate," "expect," "future," "intend,"
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changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: supply chain delays,
acceptance of our products by consumers, delays in or nonacceptance
by third parties to sell our products, competition from other
producers of similar products. More detailed information about the
Company and the risk factors that may affect the realization of
forward-looking statements is set forth in the Company’s filings
with the Securities and Exchange Commission (SEC), including our
Annual Report on Form 10-K and our subsequent Quarterly Reports on
Form 10-Q. Investors and security holders are urged to read these
documents free of charge on the SEC’s website at www.sec.gov. As a
result of these matters, changes in facts, assumptions not being
realized or other circumstances, the Company's actual results may
differ materially from the expected results discussed in the
forward-looking statements contained in this press release. The
forward-looking statements made in this press release are made only
as of the date of this press release, and the Company undertakes no
obligation to update them to reflect subsequent events or
circumstances.
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