LML Payment (LMLP) Unit Settles Litigation with Capital One (COF)
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LML Patent Corp., a wholly-owned, indirect subsidiary of LML Payment Systems Inc. (Nasdaq: LMLP), reports it has settled entered into a Settlement and License Agreement with Capital One National Association (NYSE: COF) and Capital One Services LLC (NYSE: COF).
Capital One paid $2,900,000 in connection with the Agreement.
The terms of the Agreement provide Capital One with a fully paid-up license to certain LML patents for electronic check conversion transactions including "ARC", "WEB", "POP", "TEL" and "BOC".
Capital One paid $2,900,000 in connection with the Agreement.
The terms of the Agreement provide Capital One with a fully paid-up license to certain LML patents for electronic check conversion transactions including "ARC", "WEB", "POP", "TEL" and "BOC".
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