January 16, 2008
Paid Patent Already Paying Off
By Cory Hopkins
Hot on the heels of Monday's announcement that they had secured patent protection for a proprietary shipping cost calculator, Worcester and Boston-based e-commerce and online auction company Paid Inc. said today that they have landed the first licensee of the new technology.
Digital printer manufacturer EFI has entered into an annually renewable contract and will pay Paid a licensing fee that will allow the company access to Paid's AuctionInc server to calculate or recalculate actual shipping costs for customers.
Financial terms of the deal were not disclosed.
Paid said its shipping cost calculator will help fight "shopping cart abandonment" by online shoppers, in which customers browse products online, only to stop short of buying them once shipping costs are figured in.
Digital printer manufacturer EFI has entered into an annually renewable contract and will pay Paid a licensing fee that will allow the company access to Paid's AuctionInc server to calculate or recalculate actual shipping costs for customers.
Financial terms of the deal were not disclosed.
Paid said its shipping cost calculator will help fight "shopping cart abandonment" by online shoppers, in which customers browse products online, only to stop short of buying them once shipping costs are figured in.
WBJ Web Partners
Most Recent
Most Recent
0 Comments