Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published Friday, August 12, 2005 at 12:00 AM

E-mail E-mail article      Print Print      Share Share

Amazon.com set to pay on patents

Amazon.com, the world's largest Internet retailer, agreed to pay $40 million to Soverain Software to settle two lawsuits over patents related...

Bloomberg News

Amazon.com, the world's largest Internet retailer, agreed to pay $40 million to Soverain Software to settle two lawsuits over patents related to online shopping.

Amazon.com will make the payment this quarter and will license the patents, the company said yesterday in a filing with the Securities and Exchange Commission. Amazon.com reported net income of $54.2 million in last year's third quarter.

"We entered the settlement for the purposes of ending the litigation and avoiding the expenses of continuing the litigation," said Patricia Smith, a spokeswoman for Amazon.com. "We continue to deny any wrongdoing."

Amazon.com settled yesterday, before jury selection was to begin next week in federal court in Tyler, Texas, said Kenneth Adamo, a lawyer for closely held Soverain. Soverain, based in Chicago, sued Amazon.com last year, accusing it of infringing five patents tied to online payment and identification of users.

"They're all patents basic to most current e-commerce," said Adamo, 54, a partner in the Dallas office of Jones Day. Terms of the accord were sealed, he said.

Gap settled over the same patents this year, Adamo said. A call to the offices of San Francisco-based Gap wasn't immediately returned.

Amazon.com shares have risen 1.2 percent this year, valuing the company at $18.5 billion.

E-mail E-mail article      Print Print      Share Share

More Business & Technology

UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case

UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip

UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award

UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall

NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook

More Business & Technology headlines...

advertising


Get home delivery today!

Video

Advertising

AP Video

Entertainment | Top Video | World | Offbeat Video | Sci-Tech

Marketplace

New 3-wheelers merge fun and safety new
Children who begin their vehicular life on tricycles typically migrate to two-wheelers by the time they start kindergarten, eventually graduating to f...
Post a comment

Advertising