A financial services company will be paying an undisclosed fee for the rights to some of the technology that it uses to answer its telephones.
New York Life Insurance Company, New York, is paying the licensing fee to Ronald A. Katz Technology Licensing L.P., Los Angeles, Katz says.
New York Life agreed to pay the fee in connection with the settlement of patent litigation, Katz says.
New York Life will be getting a nonexclusive license to use technology covered by a portfolio of patents that Katz owns relating to interactive voice applications, Katz says.
Other terms of the license were not disclosed, Katz says.