Stamps.com claims it didn't take a licking in Acacia settlement.STAMPS.COM Inc. recently settled a patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. lawsuit with a Minnesota company over the stamp company's use of the two-dimensional bar code that appears on each personalized stamp. VCode Holdings Inc. is a subsidiary of Newport Beach-based Acacia Research Corp., a company that acquires and licenses patents. Acacia has been aggressively pursuing patent infringement cases for its portfolios. The portfolios are made up of a loose network of companies and inventors spread across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Each has a patented technology in their pocket and many have an ax to grind. Acacia first sued Stamps.com in October of 2004, accusing Stamps of using the patented barcode technology without a license. At the time, Stamps said it intended to "defend the lawsuit vigorously," 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. a Securities and Exchange Commission filing. But last week, the stamp maker agreed to settle the suit and enter into a licensing agreement with Acacia. The financial terms of the agreement are confidential, according to Rob Berman, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and general counsel of Acacia. In a press release, however, Stamps.com called the settlement amount "immaterial." "What Stamps.com considers immaterial and what we consider immaterial are two very different things," Berman said. Acacia's licensing agreements typically involve onetime settlement fees that vary based on the size of the company involved, Berman said. Stamps.com declined to comment further on the settlement. Acacia has successfully pursued licensing agreements or patent infringement lawsuits for the barcode technology with corporate giants such as Advanced Micro Devices Corp., Boston Scientific The Boston Scientific Corporation (NYSE: BSX) (abbreviated BSC), is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, Corp., Adidas America Inc., Hitachi Global Storage Technologies Hitachi Global Storage Technologies is a wholly owned subsidiary of Hitachi, Ltd. Summary Hitachi purchased IBM's hard disk drive division, integrated their own HDD operations, and launched the company in 2003. Inc., and Automatic Data Processing Same as data processing. Inc. Acacia makes a nice living with its patent-infringement pursuits, bringing in $19.6 million in revenues last year. It is continuously acquiring new patents and now controls 42 portfolios and more than 160 patents. |
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