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Wednesday, July 14, 2010

eBay Target of $3.8-billion Patent Infringement Suit

The Globe and Mail is reporting that eBay is the target of a $3.8-billion law suit filed Tuesday in Delaware by XPRT Ventures LLC, who cited six patents that they felt eBay had infringed upon in the development of Paypal Pay Later and PayPal Buyer Credit.

In the complaint "XPRT said that when eBay on April 30, 2003 filed a patent application titled “Method and System to Automate Payment for a Commerce Transaction,” it failed to tell the U.S. Patent and Trademark Office it knew of XPRT’s own patent applications." XPRT says information was shared in confidence with eBay by the inventors on XPRT’s own patents.

"XPRT is seeking a minimum $3.8 billion in monetary damages, based on their estimated present value. It is also seeking treble damages resulting from eBay’s alleged “willful and malicious conduct,” punitive damages, and other remedies."