July 15, 2010
WNPR, Connecticut Public Radio, reported on XPRT's patent infringement case against the Internet auction giant, eBay. The story traced XPRT's relationship with eBay. The journalist stated, "What's now at stake in this lawsuit is how eBay managed to integrate PayPal with its existing payment system. XPRT Ventures says eBay illegally used its ideas for the process, and then did the same with its Bill Me Later, StubHub and Shopper.com sites."
Partner Tom Kinzler
explained the $3.8 billion damages claim: "'Ebay did publish numbers as to the number of transactions and the revenues, and basically we took a 6% royalty, which we believe is a reasonable royalty for the license of patented information, and then the rest is just multiplication against their own numbers.'"
Tom is representing XPRT.
To view the article and to listen to the audio file, click here