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43-478: Lexmark International, Inc. is a privately held American company that manufactures laser printers and imaging products. The company is headquartered in Lexington, Kentucky . Since 2016 it has been jointly owned by a consortium of three multinational companies: Apex Technology, PAG Asia Capital , and Legend Capital . Lexmark was formed on March 27, 1991, when investment firm Clayton & Dubilier completed

86-477: A leveraged buyout of IBM Information Products Corporation, the printer , typewriter , and keyboard operations of IBM . Lexmark became a publicly traded company on the New York Stock Exchange on November 15, 1995 (under NYSE:LXK). By 2016, the company struggled to keep corporate clients that are cutting costs and the consumers who are shifting to mobile devices from personal computers. It

129-417: A consistent environment necessary for running more complex programs at the user's discretion. This required programming the computer to run those programs automatically. Furthermore, as companies, universities, and marketers wanted to sell computers to laypeople with little technical knowledge, greater automation became necessary to allow a lay-user to easily run programs for practical purposes. This gave rise to

172-448: A kind of software that a user would not consciously run, and it led to software that a lay user wouldn't even know about. As originally used, firmware contrasted with hardware (the CPU itself) and software (normal instructions executing on a CPU). It was not composed of CPU machine instructions, but of lower-level microcode involved in the implementation of machine instructions. It existed on

215-508: A physical box can be binding on consumers who signal their acceptance of the agreement simply by opening the box. The decision holds that Lexmark can enforce the "single use only" policy written on the side of Lexmark printer cartridge boxes sold to large customers at a discount, with the understanding that the customers will return the cartridges to Lexmark after using them (so that the cartridges would not be diverted, refilled, and then resold), or else face legal liability for not returning them to

258-742: A procedure sometimes called flashing . Common reasons for changing firmware include fixing bugs and adding features . Ascher Opler used the term firmware in a 1967 Datamation article, as an intermediary term between "hardware" and "software". Opler projected that fourth-generation computer systems would have a writable control store (a small specialized high-speed memory) into which microcode firmware would be loaded. Many software functions would be moved to microcode, and instruction sets could be customized, with different firmware loaded for different instruction sets. As computers began to increase in complexity, it became clear that various programs needed to first be initiated and run to provide

301-441: A program from the provider, and will often allow the old firmware to be saved before upgrading so it can be reverted to if the process fails, or if the newer version performs worse. Free software replacements for vendor flashing tools have been developed, such as Flashrom . Sometimes, third parties develop an unofficial new or modified ("aftermarket") version of firmware to provide new features or to unlock hidden functionality; this

344-455: A relatively simple device, firmware may perform all control, monitoring and data manipulation functionality. For a more complex device, firmware may provide relatively low-level control as well as hardware abstraction services to higher-level software such as an operating system . Firmware is found in a wide range of computing devices including personal computers , phones , home appliances , vehicles , computer peripherals and in many of

387-661: Is a major threat to system security: "Your biggest mistake is to assume that the NSA is the only institution abusing this position of trust – in fact, it's reasonable to assume that all firmware is a cesspool of insecurity, courtesy of incompetence of the highest degree from manufacturers, and competence of the highest degree from a very wide range of such agencies". As a potential solution to this problem, he has called for declarative firmware, which would describe "hardware linkage and dependencies" and "should not include executable code ". Firmware should be open-source so that

430-434: Is less frequently updated, even when flash memory (rather than ROM, EEPROM) storage is used for the firmware. Most computer peripherals are themselves special-purpose computers. Devices such as printers, scanners, webcams, and USB flash drives have internally-stored firmware; some devices may also permit field upgrading of their firmware. For modern simpler devices, such as USB keyboards , USB mouses and USB sound cards ,

473-572: Is located in Lexington and R&D offices are distributed globally with additional R&D facilities located in Boulder , Colorado, US; Lenexa , Kansas, US; Cebu , Philippines; Kolkata , West Bengal , India; Berlin , Germany; Stockholm , Sweden and Irvine , California, US. Lexmark has offices throughout North and South America, Asia, Africa and Europe. As of July 2018, the company had approximately 9,000 employees worldwide. Lexmark pioneered

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516-571: Is often found in former Eastern Bloc countries to differentiate from former state-owned enterprises , but it may be used anywhere in contrast to a state-owned or a collectively owned company. In the United States , a privately held company refers to a business entity owned by private stakeholders, investors, or company founders, and its shares are not available for public purchase on stock exchanges. That contrasts with public companies, whose shares are publicly traded, which allows investing by

559-471: Is referred to as custom firmware . An example is Rockbox as a firmware replacement for portable media players . There are many homebrew projects for various devices, which often unlock general-purpose computing functionality in previously limited devices (e.g., running Doom on iPods ). Firmware hacks usually take advantage of the firmware update facility on many devices to install or run themselves. Some, however, must resort to exploits to run, because

602-509: Is referred to as privatization . A privately owned enterprise is one form that private property may take. In the United Kingdom, a close or closely held company is defined as a company which is controlled by either five or fewer shareholders or is controlled by shareholders who are also directors. Firmware In computing , firmware is software that provides low-level control of computing device hardware . For

645-728: The Corporations Act 2001 requires publicly traded companies to file certain documents relating to their annual general meeting with the Australian Securities and Investments Commission (ASIC). There is a similar requirement for large proprietary companies, which are required to lodge Form 388H to the ASIC containing their financial report. In the United States, private companies are held to different accounting auditing standards than public companies, overseen by

688-478: The Corporations Act 2001 limits a privately held company to 50 non-employee shareholders. A privately owned enterprise is a commercial enterprise owned by private investors, shareholders or owners (usually collectively , but they can be owned by a single individual ), and is in contrast to state institutions, such as publicly owned enterprises and government agencies . Private enterprises comprise

731-461: The digital chips inside each of these larger systems. Firmware is stored in non-volatile memory – either read-only memory (ROM) or programmable memory such as EPROM , EEPROM , or flash . Changing a device's firmware stored in ROM requires physically replacing the memory chip – although some chips are not designed to be removed after manufacture. Programmable firmware memory can be reprogrammed via

774-599: The private company limited by shares in the United Kingdom (abbreviated Ltd ) or unlimited company and the proprietary limited company (abbreviated Pty Ltd ) or unlimited proprietary company (abbreviated Pty ) in South Africa and Australia . In India , private companies are registered by the Registrar of Companies , which is under the Ministry of Corporate Affairs . Indian private companies must contain

817-408: The private sector of an economy. An economic system that 1) contains a large private sector where privately run businesses are the backbone of the economy, and 2) a business surplus is controlled by the owners, is referred to as capitalism . This contrasts with socialism , where the industry is owned by the state or by all of the community in common. The act of taking assets into the private sector

860-602: The "single use only" policy were more successful. Lexmark lost the Supreme Court case Impression Products, Inc. v. Lexmark International, Inc. , in a 7–1 ruling that partially reversed and remanded the Ninth Circuit decision in ACRA v. Lexmark on May 30, 2017: When a patentee chooses to sell an item, that product is no longer within the limits of the monopoly and instead becomes the private, individual property of

903-572: The Equation Group in at least 42 countries. Mark Shuttleworth , the founder of the company Canonical , which created the Ubuntu Linux distribution, has described proprietary firmware as a security risk, saying that "firmware on your device is the NSA 's best friend" and calling firmware "a trojan horse of monumental proportions". He has asserted that low-quality, closed source firmware

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946-716: The GUI or even the battery life. Smartphones have a firmware over the air upgrade capability for adding new features and patching security issues. Since 1996, most automobiles have employed an on-board computer and various sensors to detect mechanical problems. As of 2010 , modern vehicles also employ computer-controlled anti-lock braking systems (ABS) and computer-operated transmission control units (TCUs). The driver can also get in-dash information while driving in this manner, such as real-time fuel economy and tire pressure readings. Local dealers can update most vehicle firmware. Other firmware applications include: Flashing involves

989-686: The Private Company Counsel division of the Financial Accounting Standards Board . Researching private companies and private companies' financials in the United States can involve contacting the secretary of state for the U.S. state of incorporation (or for LLC or partnership, state of formation), or using specialized private company databases such as Dun & Bradstreet . Other companies, like Sageworks , provide aggregated data on privately held companies, segmented by industry code. By contrast, in

1032-502: The United Kingdom, all incorporated companies are registered centrally with Companies House . Privately held companies also sometimes have restrictions on how many shareholders they may have. For example, the U.S. Securities Exchange Act of 1934 , section 12(g), limits a privately held company, generally, to fewer than 2000 shareholders, and the U.S. Investment Company Act of 1940 , requires registration of investment companies that have more than 100 holders. In Australia, section 113 of

1075-605: The United States but not generally in the United Kingdom , the term is also extended to partnerships , sole proprietorships or business trusts . Each of those categories may have additional requirements and restrictions that may impact reporting requirements, income tax liabilities, governmental obligations, employee relations, marketing opportunities, and other business obligations and decisions. In many countries, there are forms of organization that are restricted to and are commonly used by private companies, for example,

1118-400: The boundary between hardware and software; thus the name firmware . Over time, popular usage extended the word firmware to denote any computer program that is tightly linked to hardware, including BIOS on PCs, boot firmware on smartphones, computer peripherals , or the control systems on simple consumer electronic devices such as microwave ovens , remote controls . In some respects,

1161-605: The code can be checked and verified. Custom firmware hacks have also focused on injecting malware into devices such as smartphones or USB devices . One such smartphone injection was demonstrated on the Symbian OS at MalCon , a hacker convention . A USB device firmware hack called BadUSB was presented at the Black Hat USA 2014 conference, demonstrating how a USB flash drive microcontroller can be reprogrammed to spoof various other device types to take control of

1204-434: The company as agreed. Lexmark had introduced various authentication mechanisms into their printers that rejected third-party cartridges and resisted any attempt to refill spent ones. ACRA, a consumer group representing manufacturers of third-party authentication microchips and third-party ink and toner cartridges, had challenged this policy as deceptive and unenforceable. The Ninth Circuit disagreed, allowing Lexmark to prevent

1247-732: The company continues to do so. Privately held company Private companies are often less well-known than their publicly traded counterparts but still have major importance in the world's economy . For example, in 2008, the 441 largest private companies in the United States accounted for $ 1.8 trillion in revenues and employed 6.2 million people, according to Forbes . Separately, all non-government-owned companies are considered private enterprises . That meaning includes both publicly traded and privately held companies since their investors are individuals. Private ownership of productive assets differs from state ownership or collective ownership (as in worker-owned companies). This usage

1290-628: The drive is formatted or wiped. Although the Kaspersky Lab report did not explicitly claim that this group is part of the United States National Security Agency (NSA), evidence obtained from the code of various Equation Group software suggests that they are part of the NSA. Researchers from the Kaspersky Lab categorized the undertakings by Equation Group as the most advanced hacking operation ever uncovered, also documenting around 500 infections caused by

1333-558: The general public. In countries with public trading markets, a privately held business is generally taken to mean one whose ownership shares or interests are not publicly traded. Often, privately held companies are owned by the company founders or their families and heirs or by a small group of investors. Sometimes, employees also hold shares in private companies. Most small businesses are privately held. Subsidiaries and joint ventures of publicly traded companies (for example, General Motors ' Saturn Corporation ), unless shares in

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1376-489: The immediate erosion of customer and stakeholder confidence in the event of financial duress. Further, with limited reporting requirements and shareholder expectations, private firms are afforded a greater operational flexibility by being able to focus on long-term growth rather than quarterly earnings. In addition, private company executives may steer their ships without shareholder approval, which allows them to take significant action without delays. In Australia, Part 2E of

1419-446: The manufacturer has attempted to lock the hardware to stop it from running unlicensed code . Most firmware hacks are free software . The Moscow-based Kaspersky Lab discovered that a group of developers it refers to as the " Equation Group " has developed hard disk drive firmware modifications for various drive models, containing a trojan horse that allows data to be stored on the drive in locations that will not be erased even if

1462-467: The overwriting of existing firmware or data, contained in EEPROM or flash memory module present in an electronic device, with new data. This can be done to upgrade a device or to change the provider of a service associated with the function of the device, such as changing from one mobile phone service provider to another or installing a new operating system. If firmware is upgradable, it is often done via

1505-588: The purchaser, with the rights and benefits that come along with ownership. A patentee is free to set the price and negotiate contracts with purchasers, but may not, by virtue of his patent, control the use or disposition of the product after ownership passes to the purchaser. The sale terminates all patent rights to that item. The decision holds that Lexmark cannot sue third-party manufacturers or resellers for patent infringement ; notably, it does not mean that Lexmark cannot use firmware to detect, reject or disable third-party ink cartridges or attempted refills. As of 2024,

1548-790: The sale, the Perceptive Business Unit portion of Lexmark's Enterprise Software Services division (e.g., their non-Kofax-branded document management products) was sold to the Thoma Bravo management group who agreed to in-turn sell the Perceptive Business Unit to the Hyland Corporation. The Kofax-branded applications remained as part of Lexmark, but other document management systems like Perceptive Content and NolijWeb and products like Intelligent Capture (formerly "Brainware") and Enterprise Search (formerly "ISYS") were absorbed by Hyland. The firm's corporate headquarters

1591-637: The subsidiary itself are traded directly, have characteristics of both privately held companies and publicly traded companies. Such companies are usually subject to the same reporting requirements as privately held companies, but their assets, liabilities, and activities are also including the reports of their parent companies , as are required by the accountancy and securities industry rules relating to groups of companies. Private companies may be called corporations , limited companies , limited liability companies , unlimited companies , or other names, depending on where and how they are organized and structured. In

1634-444: The trend is to store the firmware in on-chip memory in the device's microcontroller , as opposed to storing it in a separate EEPROM chip. Examples of computer firmware include: Consumer appliances like gaming consoles , digital cameras and portable music players support firmware upgrades. Some companies use firmware updates to add new playable file formats ( codecs ). Other features that may change with firmware updates include

1677-498: The use of profits from ink cartridges as a business model, with the result of modifying the legal models of product ownership and patent exhaustion over several years. Arizona Cartridge Remanufacturers Ass'n Inc. v. Lexmark International Inc. , also referred to as ACRA v. Lexmark , was a 2005 decision by the United States Court of Appeals for the Ninth Circuit , which ruled that an End User License Agreement on

1720-495: The use of third-party cartridges and the re-use of empty ones. These restrictions are achieved with a combination of encryption hardware within the cartridges and printer firmware that attempts to verify their authenticity as being first-party (i.e. manufactured or distributed by Lexmark). The firmware tracks cartridge ink levels, and will permanently disable any cartridge that it has determined to have been refilled, regardless of whether it actually has been. Subsequent challenges to

1763-502: The various firmware components are as important as the operating system in a working computer. However, unlike most modern operating systems, firmware rarely has a well-evolved automatic mechanism of updating itself to fix any functionality issues detected after shipping the unit. A computer's firmware may be manually updated by a user via a small utility program. In contrast, firmware in mass storage devices (hard-disk drives, optical disc drives, flash memory storage e.g. solid state drive)

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1806-579: The word Private Limited at the end of their names. Privately held companies generally have fewer or less comprehensive reporting requirements and obligations for transparency , via annual reports, etc. than publicly traded companies do. For example, in the United States, privately held companies are not generally required to publish their financial statements . By not being required to disclose details about their operations and financial outlook, private companies are not forced to disclose information that may potentially be valuable to competitors and so can avoid

1849-601: Was reported in April 2016 that Lexmark would be acquired by Apex Technology and PAG Asia Capital for US$ 3.6 billion. Lexmark was set to be acquired at $ 40.50 per share in the transaction. Initial talks for the acquisition were begun at the Remax World Expo in 2015. The deal was closed on November 29, 2016. Lexmark stated that its headquarters would remain in Lexington, and that its enterprise software line of business would be spun off and "rebranded" to Kofax . As part of

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