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NAR meets first CIVIX milestone

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The National Association of Realtors has met an initial deadline for raising $2.5 million in licensing fees from Realtor associations and multiple listing services (MLSs) seeking immunity from patent infringement claims by a company that holds several patents on location-based Internet search techniques.

Under an agreement with CIVIX-DDI LLC announced last month, NAR must raise $7.5 million in licensing fees by Aug. 16 in order for CIVIX to grant blanket immunity from lawsuits to all MLSs and Realtor associations.

If NAR fails to meet that goal -- and an interim milestone of $5 million by July 17 -- then only those Realtor associations and MLSs who paid for a licensing fee in an initial, 30-day round of fundraising that ends today will be protected from the threat of legal action.

NAR negotiated the blanket licensing agreement with CIVIX at the request of a...