Internet coupon company Coolsavings.com Inc. yesterday said it has settled its patent infringement dispute with iQ.COM.
The lawsuit alleged infringement on Coolsavings’ patent for an interactive marketing network and process using electronic certificates.
Terms of the agreement were not disclosed, but iQ.COM has been granted a limited, royalty-bearing license.
The lawsuit was one of eight filed by Coolsavings in U.S. District Court in Chicago pertaining to its ownership of patents on the distribution of coupons via the Internet.
The company has recently settled patent litigation with iVillage, planetU, eCentives, CouponSurfer, Xadvantage and emaildirect.
The settlement announcement comes one day after Coolsavings and Asset Solutions teamed to develop Internet and offline promotions for grocery retailers.
Through this agreement, Coolsavings gained the ability to showcase its services to leading food retailer clients of Asset Solutions, the promotion agency for Acosta Sales and Marketing Co., a traditional sales and marketing firm.
Coolsavings provides coupon, savings notice, rebate, loyalty point and sampling programs for its dot-com and traditional clients.
The deal adds an online marketing component to Asset Solutions’ offline strategies.