MasterCard Settles TQP Encrypted Data Patent Spat

Law360, New York (June 29, 2009, 12:00 AM EDT) -- MasterCard International Inc. has reached a settlement with TQP Development LLC in litigation accusing nearly two dozen banks, several major credit card companies and others of infringing a patent related to an online encrypted data transmission method.

TQP, MasterCard and MasterCard International LLC agreed on Friday to drop their claims in the U.S. District Court for the Eastern District of Texas.

Under the settlement, each party will bear its own costs and attorneys' fees, the motion said. Further information on the terms of the agreement was...
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