eBay reaches settlement over Buy It Now lawsuit

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eBay has just forked out some of its own hard-earned cash, buying three patents due to their ongoing lawsuit with MercExchange over the Buy It Now service.

MercExchange claims eBay was infringing on their patents, and filed a lawsuit against the company in September 2001, which has now been dropped reportedly.

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

Rest assured, readers, we can continue to buy those cut-price HDMI cables as soon as we stumble across them, and eBay doesn’t expect the settlement to affect their financial results, which will become available in April.

(via USA Today)

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