eBay's PayPal, Bank One Settle Patent Suit

Law360, New York (October 20, 2003, 12:00 AM EDT) -- Online auction house eBay Inc., its PayPal money transfer service, and Bank One Corp. agreed to settle two patent infringement lawsuits, the companies said Monday.

The two companies have been trading legal volleys over online payment processing, with Bank One suing Paypal last year and Paypal retaliating with a countersuit in September of this year. Both suits were filed in the U.S. District Court in Wilmington, Delaware.

Bank One's First USA sued Paypal first, alleging the internet's largest payment processor infringed patents covering a system for...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.