A small company sues a big time giant. Yes, this is what happened with ebay.
A small company called XPRT Ventures has slammed eBay with a $3.8 Billion over a claim that eBay had stolen XPRT’s previous patented technology, back in 2003. According to XPRT Ventures, the technology in the online payment system that PayPal had introduced was shared confidentially by XPRT’s representatives. PayPal had incorporated that technology in an April 2003 patent called “Method and System to Automate Payment for a Commerce Transaction”.
If eBay is found guilty, then it has to pay upwards of $11.4 Billion in damages. eBay on the other hand, say that this claim is without merit and that they are looking into it. In fact, XPRT has claimed that eBay has infringed upon six patents that allow users to pay online with alternate routes without using their credit cards.
XPRT ventures are fine with eBay using their technology, however they want eBay to pay them. Sources say that this is a genuine lawsuit and eBay could be in big trouble.
