Paid, Inc. Receives Notification of Issuance for Online Shipping Calculation Patent From USPTO

Share Article

Paid, Inc. (OTCBB:PAYD) today received an Issuance Notification from the U.S. Patent & Trademark Office (USPTO) stating that the USPTO has issued Patent #7324968 to Paid, Inc., which will be effective on January 29, 2008, for a "Method and System for Improved Online Auction" for real-time calculation of shipping costs for items purchased online using a zip code as a destination location indicator. The patent covers shipping charge calculation methods across multiple carriers, and accounts for additional characteristics of the item being shipped, such as weight, special packaging, handling, and insurance costs.

News Image
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.

    Paid's patent and related enterprise and retail software products include shipping calculation methods for online auctions and e-commerce, which is a vast marketplace. In 2006, the auction sector had several billion items listed on online auction platforms and online auctions are estimated to exceed $329 billion in sales by 2010.

Paid will not be limited to licensing its software solely to online auction companies and expects to pursue licensing with a broad range of ecommerce companies that contributed to the $146.5 billion in online retail sales in 2006 (statistic from Forrester Research and Shop.org's State of Retailing Online 2007).

The patent application was filed in May of 2000 and represents a major achievement for Paid, Inc., and its shareholders.

"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," said Greg Rotman, Paid, Inc., CEO. "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."

The company will provide further details after the patent's effective date. Detailed information on the features and benefits of Paid's aiShip(TM) online shipping calculation product line is available at http://www.paid.com. Parties wishing to license Paid's aiShip(TM) online shipping calculation software may contact Doug Sherman, Paid Inc., doug@paid.com, (508) 791-6710.

About Paid, Inc.:

Paid, Inc. operates a diversified set of businesses, including its celebrity services and AuctionInc ecommerce technology businesses. Using proprietary patented technology, Paid's innovative AuctionInc brand shipping calculation and auction management software and services are utilized to streamline online auctions, ecommerce and web site development and hosting. Paid, Inc.'s celebrity services provides celebrities and organizations with official Web sites and fan club services that include e-commerce storefronts, ticketing and fan experience packages and web site content to attract tens of thousands of visitors daily. The Company also sponsors autograph signing events and other sports marketing services for sports clientele. The Company's common stock is traded on the OTC Bulletin Board under the symbol PAYD. For further information, visit http://www.paid.com.

Forward Looking Statements:

This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, profitability, business development efforts, and expectations about celebrity programs and fan club activities, technologies, and services. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-QSB with the Securities and Exchange Commission.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Julie Shepherd
Accentuate PR
Julie@accentuatePR.c
Email >
Visit website