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New York Life Insurance and Regions Financial settle Katz patent suits

30 January 2008  |  2132 views  |  0 Source: Ronald A. Katz Technology

Ronald A. Katz Technology Licensing announced today the settlement of patent litigation with a group of companies including New York Life Insurance Company, based in New York City.

As part of the settlement, New York Life Insurance Company has agreed to pay an undisclosed sum for a nonexclusive license under a comprehensive portfolio of patents that Katz owns relating to interactive voice applications. Other terms of the license were not disclosed.

The patents held by Ronald A. Katz Technology Licensing, L.P. cover a wide range of interactive technology including automated forms of: customer service, prescription refill services, securities trading, merchandising, prepaid services, telephone conferences, registration, home shopping, as well as functions involved in securing information from databases by telephone, interactive cable transactions, and various other uses of toll free and local numbers.

Ronald A. Katz stated, "We welcome New York Life Insurance Company to the large number of leading financial services companies who have purchased license rights under this portfolio."

Separately, Ronald A. Katz Technology Licensing, L.P. announced today the settlement of patent litigation with a group of companies including Regions Financial Corporation, based in Birmingham, Alabama. As part of the settlement, Regions Financial Corporation has agreed to pay an undisclosed sum for a nonexclusive license under a comprehensive portfolio of patents that Katz owns relating to interactive voice applications. Other terms of the license were not disclosed.

The patents held by Ronald A. Katz Technology Licensing, L.P. cover a wide range of interactive technology including automated forms of: customer service, prescription refill services, securities trading, merchandising, prepaid services, telephone conferences, registration, home shopping, as well as functions involved in securing information from databases by telephone, interactive cable transactions, and various other uses of toll free and local numbers.

Ronald A. Katz stated, "We welcome Regions Financial Corporation to the large number of leading financial services companies who have purchased license rights under this portfolio."

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