wednesday, 3 october of 2018

Patent

Groupon to pay IBM $57 million to settle U.S. patent dispute

Online marketplace Groupon Inc (GRPN.O) on Monday said it would pay $57 million to International Business Machines Corp (IBM.N) to settle an intellectual property dispute.

IBM’s lawsuit, filed in U.S. court in Delaware in 2016, alleged Groupon used IBM’s patented e-commerce technology without authorization.

A jury sided with IBM in July, ordering Chicago-based Groupon to pay $83 million in damages.

The settlement also included a long-term patent cross-license agreement between the companies.

William Lafontaine, IBM’s general manager of intellectual property, said in a statement the deal demonstrates the value of the intellectual property the Armonk, New York-based company derives from its annual investment of more than $5 billion in research and development.

(Published by Reuters, october 1, 2018)
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