Ariba To Pay $37 Million To Settle ePlus Patent Suit

Law360, New York (February 14, 2005, 12:00 AM EST) -- Ariba Inc. has agreed to pay $37 million to settle a patent infringement lawsuit brought by rival ePlus Inc. over electronic procurement systems.

The agreement calls for Ariba to pay ePlus $37 million in three cash installments, all due by March 31, 2005. Any late payment by Ariba of the settlement amount will result in an automatic revocation of Ariba’s license rights, without refund, the companies said.

As part of the agreement, ePlus has also obtained a cross-license to all Ariba patents, patent applications and foreign...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.