eBay pays for Buy It Now

29 February 2008 9:49 GMT / By Katie Scott

eBay has settled a lawsuit that has been rumbling on since September 2001.

The eCommerce site has reached an agreement with MercExchange, who originally filed a complaint against it over 6 years ago.

Since then, the two companies have been engaged in bitter litigation over MercExchange’s patents and whether eBay’s online auctions and fixed price-related eCommerce operations violate these.

MercExchange has now agreed to drop all of its claims and appeals.

However, eBay has had to reach into its pocket and buy all three patents involved in the lawsuit, as well as some additional related technology and inventions and a license to another search-related patent portfolio that was not asserted in the lawsuit.

"We’re pleased to have been able to reach a settlement with MercExchange", said Mike Jacobson, eBay senior vice president and general counsel. "In addition to resolving the litigation, this settlement gives us access to additional intellectual property that will help improve and further secure our marketplaces."

Further terms of the settlement are confidential and were not disclosed.

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Biz, Online, eBay, Lawsuits