eBay Hit with $3.8 Billion Lawsuit over Patent Claim
By Ina Steiner
XPRT Ventures has sued eBay for $3.8 billion, asserting trade secret theft and patent infringement claims with respect to six XPRT patents. XPRT asserts eBay unfairly stole the idea and method of payment used in eBay's PayPal and similar electronic payment systems.
An eBay spokesperson told Bloomberg it was reviewing the complaint and believed it was without merit, and intended to defend itself vigorously.
The complaint alleges that the Inventors listed on XPRT's patents, George Likourezos and Michael A. Scaturro, shared their patent applications and ideas on how to implement such concepts taught therein with eBay in confidence in 2001, prior to eBay acquiring PayPal.
XPRT claims that eBay's upper management knew or should have known, that the unauthorized use of Inventors' confidential and proprietary material ran the risk of patent infringement if XPRT's patent applications issued as patents.
XPRT Ventures, LLC is represented by attorneys at Kelley Drye & Warren LLP.
A press release and PDF file containing the complaint can be found on the law firm's website.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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