IBM to receive payment from Amazon.com in patent settlement
-
- May
- 8
IBM Corp. of Armonk and Internet marketplace company Amazon.com said this morning they have settled their legal dispute over IBM’s patents. The companies said IBM will receive an undisclosed amount of money to settle the litigation.
The companies also reached agreement on how Amazon can use IBM’s patented processes in the future. IBM filed a pair of lawsuits against Amazon in federal court in Texas last October.
The computer giant said IBM was successful largely because of patents IBM owned. The patents covered processes like ordering items off an electronic catalog, recommending products to customers and placing ads.
Dan Cerutti, the general manager of software intellectual property for IBM, said: “At IBM, we place a high value on our IP assets and believe this agreement substantiates the value of our portfolio. We’re pleased this matter has been resolved through negotiation and licensing. We look forward to a more productive relationship with Amazon in the future.�
IBM shares closed yesterday at $103.16, up 20 cents.
This entry was posted
on Tuesday, May 8th, 2007 at 10:22 am by Allan Drury.
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