AOL Settles Online Advertising Patent Suit

Law360, New York (August 20, 2008, 12:00 AM EDT) -- AOL LLC has settled with a Nevada patent-holding company in a suit that accuses several major media companies of infringing two patents covering interactive online advertising systems.

Judge T. John Ward of the U.S. District Court for the Eastern District of Texas granted AOL and Beneficial Innovations Inc.'s joint stipulation to dismiss with prejudice on Tuesday. Both sides agreed to drop all claims between them following a confidential settlement, release and license agreement, according to the motion filed Friday.

Each party will pay its own costs...
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