Acacia Research Corporation's wholly-owned affiliate, Financial Systems Innovation LLC, has entered into a release and covenant not to sue with The Timberland Company covering a patent that applies to credit card fraud-protection technology. This resolves a dispute that was pending before the United States District Court for the Northern District of Georgia.
The patented technology generally relates 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 specifically identifies each transaction processed within the system.
