PAID, Inc. Files Complaint Against eBay in US District Court in Massachusetts
for Patent Infringement
WESTBOROUGH, MA -- (Marketwired) -- 12/23/13 -- PAID, Inc. (OTCBB:
PAYD) filed a patent infringement lawsuit against eBay Inc. in the
United States District Court for the District of Massachusetts on
December 20, 2013. PAID is represented in its lawsuit by Hunton &
Williams LLP, an international law firm with intellectual property
attorneys in multiple offices around the world.
PAID, Inc. owns patent numbers 8,521,642, 8,352,357, 7,930,237,
7,324,968 titled "Method and System for Improved Online Auction" and
has additional continuation claims in process before the U.S Patent &
Trademark Office (USPTO). These patents relate to the real-time
calculation of shipping, insurance, and taxes online.
"PAID has been a key player in developing technologies and methods
relating to tools used to facilitate commerce online," stated Austin
Lewis, PAID's CEO. "We will continue to grow our customer base and
add functionality to expand on our portfolio and solidify our
position as an innovator in this space."
PAID originally filed its patent application in March, 2002, to solve
a pervasive problem in the online marketplace. PAID was awarded its
first patent, No. 7,324,968, on January 29, 2008. This patent relates
to the real-time calculation of shipping costs for items purchased
online, including using a zip code as a destination location
indicator. Our second patent, No. 7,930,237, was issued on April 19,
2011 and, among other things, facilitates advanced, rapid, accurate
estimation of shipping costs across multiple shipping carriers. Our
third patent, No. 8,352,357 issued on January 8, 2013, covers systems
and methods for calculating shipping and taxes associated with items
offered for sale on online. The fourth patent, No. 8,521,642 issued
on August 27, 2013 focuses on systems and methods for calculating
shipping and taxes associated with items offered for sale on websites
with multiple sellers. For full patent details, visit www.USPTO.gov.
"We intend to protect PAID's intellectual property and enforce its
property rights amongst all infringers," added Lewis.
About PAID, Inc.:
PAID, Inc. is a one-stop brand management and
marketing resource to music, entertainment and sports personalities
and organizations, and offers AuctionInc(TM) online shipping
calculation and shopping cart software employing its patented
technology to streamline ecommerce. Known for quality and customer
service, PAID offers turnkey online, mobile, social media and
traditional marketing campaigns, as VIP ticketing, web site design,
merchandising, ecommerce and fan community management programs. More
details are available at www.paid.com.
About Hunton & Williams L.L.P.
Founded in 1901, Hunton & Williams is
committed to providing quality legal service to its clients, whether
an individual, global corporation, government or other entity. The
firm has more than 800 lawyers practicing from 19 offices across the
United States, Europe and Asia, helping clients realize new
opportunities and solve complex problems with confidence. The firm's
practice groups provide full services to clients across a wide
variety of practice areas, including intellectual property and
Safe Harbor statement under the Private Securities Litigation Reform
Act of 1995:
Statements in this news release looking forward in
time involve risks and uncertainties, including the risks associated
with the effect of changing economic conditions, trends in the
markets, the success of any litigation, the successful monetization
of the patent, variations in the company's cash flow, competition,
celebrity programs, business development efforts, technology
availability and cost of materials and other risk factors. Factors
that could cause actual results to differ materially are discussed in
the Company's most recent filings with the Securities and Exchange
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