eBay Being Sued For $3.8 Billion

eBay is being sued for over $3.8 billion by XPRT Ventures, a Connecticut based company that claims ownership of a patent that relays to a payment system similar to PayPal. XPRT also claims that eBay stole information shared by them with eBay. XPRT apparently showed eBay features in their own payment systems which are similar to PayPal Pay Later and PayPal Buyer Credit.

eBay filed for a patent called “Method and System to Automate Payment for a Commerce Transaction” in April 2003. But XPRT claims eBay already knew of XPRT’s own patent applications. The case was filed at the U.S. District Court in the District of Delaware.

[New York Times]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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