BRIEF: Rancho’s InsWeb has a new name, setup [The Sacramento Bee, Calif.]

Dec. 30--Rancho Cordova'sInsWeb Corp. has a new name -- Internet Patents Corp.

According to documents filed with the Securities and Exchange Commission, the name change was set on Wednesday, the same day that North Palm Beach, Fla.-based Bankrate Inc. completed its $65 million takeover of the bulk of InsWeb, including its online insurance-quote business.

After that deal was completed, Bankrate said it would cut about 20 jobs, keep about 30 employees in the Rancho Cordova area and move another 10 into an existing Bankrate office in San Francisco.

Of the 40 jobs being preserved in Northern California, Bankrate said about 10 are temporary positions, which could be converted to permanent slots at a later date.

Internet Patents Corp. will remain a publicly held company -- incorporated in Delaware -- and focus on commercializing several e-commerce and insurance patents that were not part of the Bankrate deal.

Call The Bee'sMark Glover, (916) 321-1184.

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