Vonage recently received approval of its first internally developed patent, called "Method and Apparatus for Placing a Long Distance Call Based on a Virtual Phone Number." The invention allows customers to use a virtual number to contact parties at distant locations without incurring long distance charges.
The patent -- No. 7,386,111 -- covers a process for a system that connects calls by converting virtual numbers at an originating point to a physical number associated with a destination point.
A virtual number allows a Vonage customer to have a secondary number where they can be reached. For example, a Vonage customer can get a secondary phone number with the same area code as his mother, so when his mother tries to contact him, she can as a local call even if he lives across the country.
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- In October 2007, Vonage and Verizon announced a settlement in their patent dispute. The terms of the resolution depend on how the Court of Appeals decides Vonage's pending petition for rehearing regarding two of the Verizon patents (the '574 and '711). If Vonage wins rehearing on either the '574 or '711 patent or if the injunction is vacated as to the '574 or '711 patent, Vonage will pay Verizon $80 million. If Vonage does not win rehearing on either the '574 or '711 patent, or if the stay is lifted reinstating the injunction, Vonage will pay Verizon $117.5 million.
- Earlier this month, Vonage settled its pending patent dispute with Sprint and entered into a licensing arrangement valued at $80 million. The fee includes $35 million for past use of license, $40 million for a fully paid future license, and $5 million in prepayment for services.
