Founder of Priceline Spoiling for a Fight Over Tech Patents
Jay Walker turned his idea for “name your own price” Internet auctions into a fortune by starting Priceline.com Inc. Now the entrepreneur is trying to cash in on his ideas by suing other companies.
Since it was founded in 1994 as a research lab, Walker Digital LLC has made much of its money by spinning out its inventions, like online travel agent Priceline and vending-machine firm Vendmore Systems LLC, as independent businesses.
But this year the Stamford, Conn., company has changed its strategy. After putting his patent portfolio up for auction last year, but failing to have his asking price met, Mr. Walker in February forged ties with IP Navigation Group, a self-described “patent monetization” firm. Since then, Walker Digital has filed about 30 lawsuits targeting hundreds of companies, including Amazon.com Inc., Zynga Inc. and Google Inc., alleging they violated one or more of the company’s roughly 400 patents.
Read the rest of this post on the original site »