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eBay to Pay Woolston $29.5 Million
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Posted by: TotalRecall
NORFOLK, Va. (AP) -- A $29.5 million verdict in a patent infringement lawsuit against Internet auction house eBay will bring changes in how the company conducts sales of fixed-price merchandise.
Jay Monahan, eBay's vice president for litigation, said the company still believes the patents belonging to Virginia inventor Thomas G. Woolston are invalid, but nonetheless plans to implement design changes that will avoid infringing on them in the future.
A federal judge Wednesday ordered the award paid to Woolston and his Great Falls, Va., company, MercExchange. In May, a federal jury in Norfolk found that eBay willfully infringed on Woolston's patents with features like eBay's "Buy It Now" option, which offers a way for people to buy auction items at a fixed price.
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