CoolSavings, Chicago, said it has settled with XAdvantage of Los Altos, CA, for infringement of CoolSavings’ patent for its coupon and sales promotions on the Internet. The agreement is the first settlement in a line of pending actions involving the patent, CoolSavings said.
The terms of the agreement acknowledge that Xadvantage’s StoreCoupons system infringed the CoolSavings patent for distributing printed and electronic coupons through the Internet. CoolSavings’ is the first patented system to provide targeted marketing capabilities to advertisers and still protect the privacy of consumers.
“We hope that this agreement will send a message to other companies who infringe on our patent,” Steven M. Golden, CoolSavings chairman and CEO, said in a statement. “It is necessary for our position as an industry leader and for our future success to protect the research and development of our technology.”
Under the agreement, XAdvantage acknowledges and waives the right to contest the validity of the CoolSavings patent. CoolSavings will grant a limited license to XAdvantage based on a modified StoreCoupons system.
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