Paid, Inc. Receives Notification of Issuance for Online Shipping Calculation Patent From USPTO
13:50 14.01.08
BOSTON--(BUSINESS WIRE)--
Paid, Inc. (OTCBB:PAYD) today received an Issuance Notification from the U.S. Patent & Trademark Office (USPTO) stating that the USPTO has issued Patent #7324968 to Paid, Inc., which will be effective on January 29, 2008, for a Method and System for Improved Online Auction for real-time calculation of shipping costs for items purchased online using a zip code as a destination location indicator. The patent covers shipping charge calculation methods across multiple carriers, and accounts for additional characteristics of the item being shipped, such as weight, special packaging, handling, and insurance costs.
Paids patent and related enterprise and retail software products include shipping calculation methods for online auctions and e-commerce, which is a vast marketplace. In 2006, the auction sector had several billion items listed on online auction platforms and online auctions are estimated to exceed $329 billion in sales by 2010.
Paid will not be limited to licensing its software solely to online auction companies and expects to pursue licensing with a broad range of ecommerce companies that contributed to the $146.5 billion in online retail sales in 2006 (statistic from Forrester Research and Shop.orgs State of Retailing Online 2007).
The patent application was filed in May of 2000 and represents a major achievement for Paid, Inc., and its shareholders.
Paid invested millions of dollars and thousands of man hours over the past 6.5 years on research and development, the patent and related products, said Greg Rotman, Paid, Inc., CEO. We are grateful for all the hard work and support put forth by our shareholders, Thomas E. Anderson of our patent law firm Hunton & Williams, LLP, and The Paid Inc. R&D team, with a special thanks to John Martin, Richard Rotman and Doug Sherman.
The company will provide further details after the patents effective date. Detailed information on the features and benefits of Paids aiShip online shipping calculation product line is available at www.paid.com. Parties wishing to license Paids aiShip online shipping calculation software may contact Doug Sherman, Paid Inc., doug@paid.com, (508) 791-6710.
About Paid, Inc.:
13:50 14.01.08
BOSTON--(BUSINESS WIRE)--
Paid, Inc. (OTCBB:PAYD) today received an Issuance Notification from the U.S. Patent & Trademark Office (USPTO) stating that the USPTO has issued Patent #7324968 to Paid, Inc., which will be effective on January 29, 2008, for a Method and System for Improved Online Auction for real-time calculation of shipping costs for items purchased online using a zip code as a destination location indicator. The patent covers shipping charge calculation methods across multiple carriers, and accounts for additional characteristics of the item being shipped, such as weight, special packaging, handling, and insurance costs.
Paids patent and related enterprise and retail software products include shipping calculation methods for online auctions and e-commerce, which is a vast marketplace. In 2006, the auction sector had several billion items listed on online auction platforms and online auctions are estimated to exceed $329 billion in sales by 2010.
Paid will not be limited to licensing its software solely to online auction companies and expects to pursue licensing with a broad range of ecommerce companies that contributed to the $146.5 billion in online retail sales in 2006 (statistic from Forrester Research and Shop.orgs State of Retailing Online 2007).
The patent application was filed in May of 2000 and represents a major achievement for Paid, Inc., and its shareholders.
Paid invested millions of dollars and thousands of man hours over the past 6.5 years on research and development, the patent and related products, said Greg Rotman, Paid, Inc., CEO. We are grateful for all the hard work and support put forth by our shareholders, Thomas E. Anderson of our patent law firm Hunton & Williams, LLP, and The Paid Inc. R&D team, with a special thanks to John Martin, Richard Rotman and Doug Sherman.
The company will provide further details after the patents effective date. Detailed information on the features and benefits of Paids aiShip online shipping calculation product line is available at www.paid.com. Parties wishing to license Paids aiShip online shipping calculation software may contact Doug Sherman, Paid Inc., doug@paid.com, (508) 791-6710.
About Paid, Inc.:
