NEWPORT BEACH, Calif. (AP) - Acacia Research Corp., which develops, licenses
and acquires patented technologies, said Friday it agreed to settle a patent
dispute with Shell Oil Co. regarding credit card fraud protection technology.
Shell Oil is a unit of Royal Dutch Shell PLC. Terms of the settlement were
not disclosed.
The agreement between Acacia's Financial Systems Innovation LLC unit and
Shell covers patents relating to a computerized system for protecting retailers
and consumers engaged in credit card, check card, and debit transactions. The
system includes an electronic card reader and the generation and use of a
transaction number which identifies each transaction in the system.
Shares of Acacia Research added 17 cents to $15.80 in morning trading.
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