Feeds

Ecommerce patent speculator drops suit

PanIP's patent still valid

  • alert
  • submit to reddit

High performance access to file storage

The company representing a patent speculator who has been pursuing small commercial websites has called off its pursuit.

Lawrence Lockwood was granted an e-commerce patent in 2001, USPTO No. 6,289,319, for a "Automatic Business and Financial Transaction Processing System" which was wide-ranging enough to potentially ensnare ATM manufacturers too. A company called PanIP was founded last year to pursue Lockwood's patent, and fifty small e-commerce operations found themselves facing claims of up to $30,000.

A statement by a group of the defendents at their website says that PanIP has dropped its claims. None of the small businesses targeted too out a license, according to the PanIP Group Defense Fund.

Lockwood had previously been granted a patent for an "Automated sales and services system", which he used to sue the SABRE airline reservation system. Both patents are under review by the USPTO. The Office recently struck down Eolas patent for embedded objects in web pages, but only after the university spin-off was awarded over $500 million in damages from Microsoft, money that Redmond doesn't now have to pay. ®

Related story

All your e-commerce sites belong to PanIP (and they want your money)

External Link

PanIP Group Defense Fund

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.