Network-1 Technologies is a patent licensing and enforcement company, also known as a non-practicing entity (NPE). Network-1 acquires patents from inventors or patent holders, then generates revenue by licensing those patents to third parties — typically after asserting infringement claims, which usually results in negotiated settlements or litigation outcomes. Network-1 does not manufacture products; licensing fees and settlements are its only revenue source. Historically, a single asset — the Remote Power Patent — generated over $188M in cumulative licensing revenue, but that patent has now expired. Network-1 currently holds four active portfolios: an M2M/IoT portfolio covering eSIM authentication technology (45 U.S. patents, expiring 2033–2034), an HFT portfolio covering speed and latency technologies used in high-frequency trading (11 U.S. patents, expiring 2039–2040), the Cox portfolio covering media content identification technology (all patents expired, but a Federal Circuit appeal against Google and YouTube is pending), and a Smart Home portfolio covering IoT device interoperability (acquired March 2025). Original patent sellers retain royalty interests of 12.5%–17.5% of net proceeds per portfolio. Network-1 is a tiny operation with two full-time employees, making it highly dependent on individual litigation outcomes. Network-1 also holds a small minority stake in ILiAD Biotechnologies, a clinical-stage biotech, which is a passive financial investment unrelated to its core business.