This problem is well-known. I first met it when I was a schoolboy, learning the following problem from All-Soviet-Union mathematical competition from the year when I was born. :-)
208 a) Given a big square consisting of $7\times 7$ squares. You should mark the centres of $k$ points in such a way, that no quadruple of the marked points will be the vertices of a rectangle with the sides parallel to the sides of the given squares.
What is the greatest k such that the problem has solution?
b) The same problem for $13\times 13$ square.
I scanned its solution from [VE] (in Russian). About the beginning of the millennium I met a similar problem related to graphs at Erich Friedman's Math Magic.
Similarly to the scanned solution of the competition problem or to the proof of Proposition 1 from my paper, we can find an upper bound on the maximal number $s=s(m,n)$ of squares which can be colored in a rectangular $m\times n$ board without forming rectangles. Namely, $s\le \frac 12(m+\sqrt{D})$, where $D=4mn^2-4mn+m^2$. In particular, if $D$ is a perfect square, that is $m=\frac{n(n-1)}{k(k-1)}$ for some natural $k$ then the upper bound proposed above becomes $s(m,n)\le km$. See also hardmath’s answer to this question about Füredi’s paper. But the board case is a bit different from the graph case and the known result do not need such subtle analysis as that done by Füredi. Namely, if there exists a Steiner system $S(2,k,n) $ then it yields $s(m,n)\ge km$, so in this case the inequality becomes an equality. This yield us an exact solution for a rectangular board $q^2\times (q^2+q)$ and a square board with a side $q^2+q+1$, where $q$ is a power of a prime number we still cannot construct respective Steiner systems for other $q$ and a rectangular board $n\times n(n-1)/6$, where $n$ has a form $6q+1$ or $6q+3$ for some $q$.
References
[VE] Vasil'ev N.B, Egorov A.A. The problems of the All-Soviet-Union mathematical competitions, Moscow.:Nauka, 1988 (in Russian).