IRVINE, Calif. (Business Wire EON) November 6, 2007 -- Debt Resolve, Inc. (AMEX:DRV) and Apollo Enterprise Solutions, LLC jointly announced today that they have reached a settlement of the pending patent infringement lawsuit between Debt Resolve and Apollo Enterprise Solutions in the U.S. District Court, District of New York.
The parties came to agreement that Apollo's Intelligent Debt Solutions™ system, as represented by Apollo, does not infringe on Debt Resolve's United States Patent Nos. 6,330,551 and 6,954,741, both entitled Computerized Dispute Resolution System and Method. The parties further agree to respect each other’s intellectual property to the extent it is validly patent protected with the parties preserving all of their legal rights.
At present, the parties do not contemplate any further legal action against each other.
About Apollo Enterprise Solutions
Apollo Enterprise Solutions, LLC, headquartered in Irvine, California, provides enterprise-class web-hosted solutions for a variety of industries involved in receivables management and debt collections. At the heart of Apollo’s Intelligent Debt Solutions™ system is the patent-pending IDS Decision Engine™ which provides Decisioning Intelligence™, a revolutionary process that delivers more debtors for recovery and settlement and more dollars per settlement by creating individual, customized offers that reflect a debtor’s most realistic ability to pay. For more information, please visit the website at www.apolloenterprise.com.
About Debt Resolve, Inc.
Debt Resolve provides lenders, collection agencies, debt buyers and utilities with a patent-based online bidding system for the resolution and settlement of consumer debt and a collections and skip tracing solution that is effective at every stage of collection and recovery. Through its subsidiary, First Performance Corporation, the company is actively engaged in operating a collection agency for the benefit of its clients, which include banks, finance companies and purchasers of distressed accounts receivable. The stock of Debt Resolve is traded on the American Stock Exchange. Debt Resolve is headquartered in White Plains, New York. For more information, please visit our website at www.debtresolve.com.
Source: PRWeb: Legal / Law
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