Patent Law

Video Rivals Settle Patent Dispute

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Netflix has settled a suit that alleged Blockbuster stole its business method to charge subscribers a monthly fee to rent videos online.

Blockbuster revealed the settlement in a filing with the Securities and Exchange Commission, the Wall Street Journal (sub. req.) reports. Details of the agreement were not disclosed.

A spokeswoman said Blockbuster would not change its business model as a result of the settlement, Reuters reports.

Netflix filed the lawsuit last year. Blockbuster responded with a countersuit alleging fraud and antitrust violations.

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