Autobytel and Edmunds Enter Settlement Agreement.

Autobytel Inc. (Nasdaq: ABTL) and Edmunds.com, Inc. announced that they entered into a settlement resolving EdmundsE declaratory judgment action (Edmunds Holding Company and Edmunds.com, Inc. v. Autobytel Inc.) filed against Autobytel in the U.S. District Court for the District of Delaware and relating to AutobytelEs U.S. Patent Number 6,282,517 for lead technology (oE517 Patento). Although the case was recently dismissed by the court, the parties have entered into a settlement to avoid any further proceedings in this matter (see also Autobytel Inc.).

According to the settlement, Autobytel has granted to Edmunds a limited license to the E517 Patent and other existing Autobytel leads-related patents in exchange for the right to publish on AutobytelEs family of websites a select assortment of Edmunds.comEs industry-leading multi-media automotive content, including photos, editorial reviews, and articles. The agreement also provides for mutual releases of claims.

oWe are happy to continue our long-standing relationship with Edmunds.com, a fellow pioneer in the automotive Internet,o said Autobytel President and CEO Jeffrey Coats. oEdmunds.comEs automotive information has long been valued for its ability to attract and retain in-market car buyers. The addition of this rich and multi-media content to our websites from what we consider to be the best source in the business u without the costly operations involved in creating it - furthers our core strategy of streamlining our internal operations, while at the same time focusing our website and lead generation efforts on attracting the highest quality, in-market car buyers u which we consider mission critical to help our dealers in the current economic environment.o

oAutobytel and Edmunds.com have been marketing partners since the earliest days of the automotive Internet, and we are very pleased to have reached this settlement amicably and to our mutual benefit,o said Edmunds.com CEO Jeremy Anwyl. oWe are delighted to put this matter behind us and to continue doing business as we have for years.o About Autobytel Inc. Autobytel Inc. (oAutobytelo or the oCompanyo) is an automotive marketing services company that assists automotive dealers and manufacturers sell cars. By connecting consumers to automotive dealers and manufacturers through internet lead referral programs and on-line advertising, the Company provides automotive dealers and manufacturers with opportunities to efficiently market their vehicles to potential customers. The Company purchases from third party sites and generates from its owned websites consumer internet requests for pricing and availability for new and used vehicles as well as for vehicle financing (these consumer internet requests are referred to as oLeadso). The Company sells the Leads primarily to its automotive dealer and manufacturer customers. Leads are purchased from a network of supplier websites, such as Edmunds.com, AOL, Kelley Blue Book and Yahoo!. The Company owns consumer-facing automotive websites, including Autobytel.com[R], Autoweb.com[R], AutoSite.com[R], Car.comsm, CarSmart.com[R], CarTV.com[R], and MyRide.com[R], that provide consumers with information and tools to aid them with their automotive purchase decisions. In addition to advertising opportunities on its owned websites, the Company provides advertising opportunities for automotive manufacturers and other automotive advertisers through the CompanyEs marketing network, which includes the automotive sections of third party co-branded websites operated by the Company, such as ESPN.com and the CompanyEs AutoReach advertising network.

Keywords: Business, Patent Actions, Patents Actions, Autobytel Inc.

This article was prepared by Biotech Week editors from staff and other reports. Copyright 2009, Biotech Week via NewsRx.com.