PAID, Inc. Files Complaint Against eBay in US District Court in Massachusetts for Patent Infringement
December 23 2013 - 9:00AM
Marketwired
PAID, Inc. Files Complaint Against eBay in US District Court in
Massachusetts for Patent Infringement
WESTBOROUGH, MA--(Marketwired - Dec 23, 2013) - PAID, Inc.
(OTCBB: PAYD) filed a patent infringement lawsuit against eBay Inc.
in the United States District Court for the District of
Massachusetts on December 20, 2013. PAID is represented in its
lawsuit by Hunton & Williams LLP, an international law firm
with intellectual property attorneys in multiple offices around the
world.
PAID, Inc. owns patent numbers 8,521,642, 8,352,357, 7,930,237,
7,324,968 titled "Method and System for Improved Online Auction"
and has additional continuation claims in process before the U.S
Patent & Trademark Office (USPTO). These patents relate to
the real-time calculation of shipping, insurance, and taxes
online.
"PAID has been a key player in developing technologies and
methods relating to tools used to facilitate commerce online,"
stated Austin Lewis, PAID's CEO. "We will continue to grow our
customer base and add functionality to expand on our portfolio and
solidify our position as an innovator in this space."
PAID originally filed its patent application in March, 2002, to
solve a pervasive problem in the online marketplace. PAID was
awarded its first patent, No. 7,324,968, on January 29, 2008. This
patent relates to the real-time calculation of shipping costs for
items purchased online, including using a zip code as a destination
location indicator. Our second patent, No. 7,930,237, was issued on
April 19, 2011 and, among other things, facilitates advanced,
rapid, accurate estimation of shipping costs across multiple
shipping carriers. Our third patent, No. 8,352,357 issued on
January 8, 2013, covers systems and methods for calculating
shipping and taxes associated with items offered for sale on
online. The fourth patent, No. 8,521,642 issued on August 27,
2013 focuses on systems and methods for calculating shipping and
taxes associated with items offered for sale on websites with
multiple sellers. For full patent details, visit
www.USPTO.gov.
"We intend to protect PAID's intellectual property and enforce
its property rights amongst all infringers," added Lewis.
About PAID, Inc.: PAID, Inc. is a one-stop brand management and
marketing resource to music, entertainment and sports personalities
and organizations, and offers AuctionInc™ online shipping
calculation and shopping cart software employing its patented
technology to streamline ecommerce. Known for quality and customer
service, PAID offers turnkey online, mobile, social media and
traditional marketing campaigns, as VIP ticketing, web site design,
merchandising, ecommerce and fan community management
programs. More details are available at www.paid.com.
About Hunton & Williams L.L.P. Founded in 1901, Hunton &
Williams is committed to providing quality legal service to its
clients, whether an individual, global corporation, government or
other entity. The firm has more than 800 lawyers practicing from 19
offices across the United States, Europe and Asia, helping clients
realize new opportunities and solve complex problems with
confidence. The firm's practice groups provide full services
to clients across a wide variety of practice areas, including
intellectual property and commercial litigation.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: Statements in this news release looking forward
in time involve risks and uncertainties, including the risks
associated with the effect of changing economic conditions, trends
in the markets, the success of any litigation, the successful
monetization of the patent, variations in the company's cash flow,
competition, celebrity programs, business development efforts,
technology availability and cost of materials and other risk
factors. Factors that could cause actual results to differ
materially are discussed in the Company's most recent filings with
the Securities and Exchange Commission.
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