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."