TQP Patent Suit: Another One Bites the Dust
After filing a patent infringement suit against 42 banks — including Bank of America, Capital One, Citigroup, Goldman Sachs Group, JPMorgan Chase & Co. and Merrill Lynch & Co. — TQP obtained another settlement, this one from Citigroup Inc. and its subsidiaries. The patent at issue is U.S. Patent Number 5,412,730, entitled “Encrypted data transmission system employing means for randomly altering the encryption keys,” issued in 1995, is directed towards online encrypted data transmissions technology.
TQP has already settled with Goldman Sachs, JPMorgan, Merrill Lynch and Morgan Stanley. In September, TQP sued another group of online vendors including Ticketmaster, Apple, eBay and PayPal, alleging the same claims.
Update: TQP reached a settlement agreement with Capital One in its patent infringement suits over its online encrypted data transmissions patent. The parties jointly filed to dismiss TQP’s claims against Capital One.
TQP and ING also jointly filed to dismiss the claims against ING.