How a decades-old Amazon patent ignited fierce competition between one-click-checkout players like Shopify and Bolt — and set the stage for Fast's implosion
When the patent expired, it set off fierce competition among tech companies.The fintech startupearlier this month after struggling to raise new capital exposed the intense competition among companies offering one-click checkout.
Amazon's investment in the patent, as well as the lawsuits it brought to enforce it, dissuaded competitors from attempting to replicate the tech for themselves and paid dividends for the business later.The fierce competition in the checkout world can be traced back to September 1999, when Amazon was granted a patent for its 1-Click technology, which allowed customers to save their shipping and payment information to their account to easily make purchases.
Joseph Yang, a partner at PatentEsque Law Group who co-teaches a course on technology and patent licensing at Stanford Law School, told Insider that the technology provided Amazon many"indirect benefits."
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