Paid, Inc. (PAYD.OB) has received an Issuance Notification from the U.S. Patent & Trademark Office regarding issued Patent #7324968. This patent, effective January 29, 2008, allows individuals to determine real-time shipping costs for items purchased online. This application will calculate shipping charges across multiple carriers and will account for individual characteristics of items.
Paid will not be limited when licensing their software to online auction companies as this software can also be utilized by a broad range of ecommerce companies. The patent application was filed in May of 2000 and represents a major achievement for Paid, Inc., and its shareholders.
Greg Rotman, CEO of Paid, commented, “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. 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.”
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