p2pnet view P2P:- eBay is being sued for “at least $3.8 billion” by XPRT Ventures, which is accusing it of violating six patents to “develop lucrative payment systems”.
The complaint, filed yesterday, says “eBay allegedly stole information shared in confidence by the inventors on XPRT’s own patents, and incorporated it into features in its own payment systems, such as PayPal Pay Later and PayPal Buyer Credit”, states Reuters, continuing:
“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.
“By filing for a similar patent, eBay “admitted the patentability of the inventors’ claims,” the complaint said.”
XPRT wants a “minimum $3.8 billion in monetary damages, based on their estimated present value”, the story says, adding:
“It is also seeking treble damages resulting from eBay’s alleged “willful and malicious conduct,” punitive damages, and other remedies.”
Also named as defendants are eBay affiliates PayPal, Bill Me Later, Shopping.Com and StubHub.
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