SHOP.COM Maintains Worldwide License of Internet Shopping Patent.Complements Company's OneCart[TM] Technology Patent MONTEREY Monterey (mŏntərā`), city (1990 pop. 31,954), Monterey co., W Calif., a port on Monterey Bay; founded 1770, inc. 1850. It is a popular resort, the home of many artists and writers, and one of California's oldest cities. , Calif. -- SHOP.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. , the ecommerce multi-merchant site with OneCart[TM] convenience, today announced that since August 2006 it has held a worldwide, perpetual PERPETUAL. That which is to last without limitation as to time; as, a perpetual statute, which is one without limit as to time, although not expressed to be so. license for a recently auctioned U.S. Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the shopping patent. Under the agreement, SHOP.COM obtained continual rights to U.S. Patent no. 5,895,454 granted to Juliette Harrington in 1997 entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: , "Integrated Interface for Vendor/Product-Oriented Internet websites." The agreement caps license fees and allows SHOP.COM ongoing rights to use this ecommerce technology. The agreement complements SHOP.COM's existing IP portfolio which includes the company's recently granted OneCart[TM] technology patent. The SHOP.COM patent for OneCart technology covers business processes and core technology for implementing a multi-vendor Internet commerce system that efficiently enables e-consumers at a single web destination to purchase from multiple vendors in a single checkout in a single web destination. "The Harrington patent covers an ecommerce system for shopping from multiple merchants' sites and returning to a central site to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... the transaction," said Lee Lorenzen, founder of SHOP.COM and co-inventor of the company's patent. "The combination of our license to the Harrington patent and our own OneCart technology patent creates a valuable asset for SHOP.COM, further enhancing our vision to create the most compelling shopping experiences for our customers worldwide." The Harrington patent was recently sold at auction for a reported $4,895,550, the highest-selling price for a patent at a multi-lot live IP auction, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Ocean Tomo Auctions, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the auction arm of a Chicago-based Intellectual Capital Merchant Banc firm that conducted the auction. About SHOP.COM SHOP.COM is the destination online marketplace designed to help consumers more conveniently and efficiently shop on the web. SHOP.COM organizes millions of products from more than a thousand merchants in a single location, allowing consumers to shop across them all - start to finish - with OneCart[TM] and one personal password-protected account. OneCart [TM] is SHOP.COM's unique, proprietary patented solution that fully integrates data feeds from all SHOP.COM merchant partners to allow a single check-out experience. SHOP.COM is a privately-held company headquartered in Monterey, Calif. For more information, visit the company's website at www.SHOP.COM. |
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