Ebay and Paypal Sued again! This time for $3.8 Billion dollars!

[bmwsouthside]

EBay Sued for $3.8 Billion Over XPRT Payment Patents

EBay Inc., the most-visited U.S. e-commerce site, and units including PayPal Inc. were sued by XPRT Ventures LLC for $3.8 billion over claims the online retailer infringed patents related to e-commerce payment systems.

EBay infringed six patents for online payments and stole trade secrets by sharing information in a patent application despite a confidentiality agreement, Greenwich, Connecticut- based XPRT said yesterday in a complaint in U.S. District Court in Wilmington, Delaware.

“XPRT asserts EBay unfairly stole the idea and method of payment used in EBay’s PayPal and similar electronic payment systems,” XPRT said in an e-mailed statement yesterday.

A spokeswoman at San Jose, California-based EBay didn’t immediately reply to a message seeking comment.

The case is 10-cv-595, U.S. District Court, District of Delaware (Wilmington).

USPTO, EBay, Louis Vuitton, WWE, Blige, Foxconn: Intellectual Property - Bloomberg


Looks like ebay and paypal steal from everyone not just us.

[slapped]

This case has been going on for Quite some time,,,I Do Not Know where the case stands,,,Maybe some one else can Update us,,,,,,,,,,,

[OfficialGenius]

Can we say highest single amount ever!? I hope they lose so eBay/Paypal can change the way they do business for the better.

[pod]

We'll all be sending out items to buyers by our tabletop particle transporters by the time this is finalized....

[TGMT²]

Originally Posted by OfficialGenius

I hope they lose

I would prefer for this to just get settled in the least damaging way possible, without crippling PayPal.

Have you ever heard that phrase: S--- rolls downhill?

Do you honestly think that if they lose a major lawsuit like this that our fees/rates would remain the same?

[SaiJin]

WHat do you guys think will happen if they lose? They'll take it out on their sellers.
The powerful ones will always feed on the weaker.

[MadSam]

This is very old news, nothing will ever come of it. But for argument's sake SaiJin, yes if they were hit with anything like that amount they most certainly would pass the costs onto their consumers to make up for the lost revenue, just like they and every other organisation in general always has done. Fraud costs insurance companies billions so it results in higher rates passed onto consumers. The more PayPal lose to fraud and accounts that leave them holding the bag, the harder they try to penalise sellers and hit them for the liability and raise the fees for everyone. It's always the way, they make it up from somewhere and invariably it's from higher prices passed onto consumers.

This case however will just lie in limbo and get dismissed, if in the unlikely event there were some settlement made it would be for a tiny fraction of that asking price - any court room would simply laugh that out of the building. Particularly with these Patent Infringement cases over an "idea", it's just so difficult to prove and you can't strictly patent or steal an "idea" as is mentioned, only the way the idea is expressed or executed.

[WasTopRatedThenBanned]

as soon as ebay falls, customers will flock else-where....no?

[slapped]

Ebay aint going Anywhere

[jbluntz]

Just what I want to hear

[slapped]

Even if they lost and they had to Pay the WHOLE 3.8 Billion (HIGHLY Unlikely) Do you Know how many banks would Line up to make that Loan,,Let me Just put it this way,,,It would be FAR Easier for Ebay to Borrow 4 BILLION from aBank than Me or you Borrowing TEN Dollars!!! Guaranteed

[davevjr]

They don't need to borrow they have like 22 billion in cash resverve according to their annual report. In order to take down ebay you would have to dilute the stock price. This is about physchology, which is the reason their still so popular despite their crappy treatment of sellers. Physcology. every consumer trusts paypal like thier freakin pope!

[robsut]

i hope eBay/Paypal lose, they need a good kick in the teeth, who knows, the things they are getting sued for might be the way paypal unlawfully track and record our every move

Originally Posted by bmwsouthside

EBay Sued for $3.8 Billion Over XPRT Payment Patents

EBay Inc., the most-visited U.S. e-commerce site, and units including PayPal Inc. were sued by XPRT Ventures LLC for $3.8 billion over claims the online retailer infringed patents related to e-commerce payment systems.

EBay infringed six patents for online payments and stole trade secrets by sharing information in a patent application despite a confidentiality agreement, Greenwich, Connecticut- based XPRT said yesterday in a complaint in U.S. District Court in Wilmington, Delaware.

“XPRT asserts EBay unfairly stole the idea and method of payment used in EBay’s PayPal and similar electronic payment systems,” XPRT said in an e-mailed statement yesterday.

A spokeswoman at San Jose, California-based EBay didn’t immediately reply to a message seeking comment.

The case is 10-cv-595, U.S. District Court, District of Delaware (Wilmington).

USPTO, EBay, Louis Vuitton, WWE, Blige, Foxconn: Intellectual Property - Bloomberg


Looks like ebay and paypal steal from everyone not just us.

[davevjr]

They don't need to borrow they have like 22 billion in cash resverve according to their annual report. In order to take down ebay you would have to dilute the stock price. This is about physchology, which is the reason their still so popular despite their crappy treatment of sellers. Physcology. every consumer trusts paypal like thier freakin pope!

[GreenBean]

let's vent our spleens on a thread over a year old. Yeah!

[smellybelly]

its all about phsycology


do you know how hard ebay forces the terms 'paypal the safest option to use/transact on ebay' constantly

no1 wants to use anything else

[GreenBean]

There's not one user here who does not have first hand experience with paypal.

Nothing new is there?

Better to make those stealth accounts work, work well and make money.

[BiN4RY]

Originally Posted by smellybelly

do you know how hard ebay forces the terms 'paypal the safest option to use/transact on ebay' constantly

Yeah? How hard?

To be honest, the greatest reason why eBay and Paypal are extremely popular is because they're one of the earliest pioneers who offers such service.