Groupon forks out millions to settle patent dispute with IBM
Online marketplace Groupon says it will pay US$57 million to IBM to settle an intellectual property dispute.
Online marketplace Groupon says it will pay US$57 million to IBM to settle an intellectual property dispute.
A lawyer for discount e-commerce company Groupon this week told a court in Delaware that International Business Machines Corp has shaken down practically every large tech firm for patent fees.
Groupon has dropped trademark applications that sought to use the "Gnome" name for a point-of-sale tablet it released in May, clashing with the open-source software group of the same name.
The Gnome Foundation is claiming Groupon has infringed on its trademark and is seeking financial and community support to finance its fight.
Though earnings from some tech vendors brightened up a week of tepid market reports, shares of IT companies broadly declined Friday along with the rest of the market.
Following closely on the heels of LinkedIn's successful initial public offering, Groupon announced on Thursday that it is planning an IPO it hopes will raise some US$750 million.