SUFFERN, NY, June 28, 2006 - General Patent Corporation International (GPCI), a leading patent licensing and enforcement company headquartered in Suffern, NY, its client Advanced Card Technologies LLC (ACT), SSI Technologies (SSI) and Travel Tags, Inc. today announced that they have settled their longstanding patent infringement lawsuit.
The case, originally filed in July 2002 in the Western District of Oklahoma (#CV-02-981), involved the alleged infringement of ACT’s U.S. Patent Nos. 5,720,158 and 5,921,584 (Patents) by breakaway card products bearing magnetic stripes, such as phone cards and gift cards. As part of the settlement, Travel Tags obtained a release of all claims in favor of its customers who purchased through Travel Tags, and also took a license under the Patents at ACT’s standard royalty rate.
Ryan Schreier, VP of Sales at Travel Tags, stated, "I am very pleased to announce the situation has been amicably resolved. This will certainly benefit Travel Tags' current and future clients."
"After nearly four years, we are happy to have resolved this case with Travel Tags," said Neil Cohen, GPCI's Assistant General Counsel. "Our hard work during almost three years of reexamination proceedings in the U.S. Patent Office has paid off. We can now concentrate our licensing efforts on others, and launch new initiatives to bring certainty to the proper patent coverage over products in the market."
About Advanced Card Technologies LLC
Advanced Card Technologies of Suffern, NY is the owner of U.S. Patent No. 5,720,158 entitled "Information Card Package" and U.S. Patent No. 5,921,584 entitled "Card Display Package". A non-exclusive license under these patents is available. For licensing terms, contact Neil Cohen at (845) 368-4000, x105.
About Travel Tags
Travel Tags (www.traveltags.com), with 30 years of plastic printing experience, is headquartered in Inver Grove Heights, Minnesota. Travel Tags specializes in unique plastic printing and packaging using innovative print technology. Travel Tags provides a variety of stored value products, programs and services including design concepts and specialty gift, loyalty, membership and phone cards.
About General Patent Corporation International
General Patent Corporation International (GPCI) is a premier IP licensing and enforcement firm headquartered in Suffern, NY. GPCI represents clients in IP enforcement matters and licensing transactions on a contingency basis. GPCI is the oldest contingency IP enforcement organization in the US. For more information visit www.patentclaim.com.
General Patent Corporation (GPC), an affiliate of GPCI, is a leading intellectual property management firm. GPC provides IP analysis and strategy, IP audit and valuation, IP portfolio mining and management, and technology transfer services to domestic and foreign businesses, universities, research institutions and individual inventors. For more information visit www.generalpatent.com.
IP Holdings LLC, another affiliate of GPCI, is an idea incubator and an IP-centric merchant banking organization. For more information on IP Holdings visit www.ip-holdings.com.
For further information on Advanced Card Technologies, GPC, GPCI and IP Holdings contact General Patent Corporation International, Montebello Park, 75 Montebello Road, Suffern, NY 10901-3740; telephone: (845) 368-4000; e-mail: email@example.com.