Thursday, April 23, 2009

Autobytel, Leadpoint, Internet Brands Settle Patent Suit

Irvine-based Autobytel, Los Angeles-based LeadPoint, and El Segundo-based Internet Brands have settled a multi-party, patent lawsuit that was filed by Autobytel against the other firms. According to the companies, LeadPoint, Autobytel, Internet Brands, and Insweb have all entered into a settlement agreement over a patent lawsuit filed by Autobytel, and a retaliatory lawsuit by the others against Autobytel. Financial terms of the settlement were not disclosed. As part of the settlements, Autobytel and Internet Brands said they have agreed to grant each others non-exclusive, perpetual licenses to each other's patents, and Internet Brands will give Autobytel images, tools, and vehicle data from its Autodata Solutions subsidiary. The lawsuit was over Autobytel's U.S. Patent, 6,282,517, covering lead technology, and had been filed in Texas.

---