SOURCE: Paid, Inc.

PAID, Inc.

September 17, 2015 09:00 ET

PAID, Inc. Receives Notification of USPTO Patent Trial and Appeal Board Review

WESTBOROUGH, MA--(Marketwired - September 17, 2015) - PAID, Inc. (OTCQB: PAYD) commenced on December 20, 2013 patent infringement litigation against eBay, Inc. (Paid, Inc. v. eBay, Inc.; CV No. 4:13-cv-40151-TSH) in the United States District Court for the District of Massachusetts Central Division. On September 30, 2014 the USPTO Patent Trial and Appeal Board (PTAB) announced that it had granted petitions filed by eBay, Inc. requesting a covered business method (CBM) review of PAID’s United States Patent Nos. 8,635,150, 8,521,642, 8,352,357, and 7,930,237. The results of the CBM review were received on September 16, 2015 by PAID, Inc. and its counsel. The PTAB has entered a final ruling and has determined the claims have failed to claim patent eligible subject matter.

PAID, Inc. is currently reviewing the decision of the PTAB with counsel and preparing a response to the CBM review. PAID, Inc. continues to have a patent pending and will protect its intellectual property and related assets as necessary.