All this trouble over
that?
EBay has settled a seven-year patent dispute with MercExchange over its "Buy It Now" option, following a major ruling from the US Supreme Court.
In the settlement, eBay agreed to buy the three MercExchange patents it was accused of violating, reports AP News. The price was not disclosed, but eBay said the cost would not affect its financial results.
MercExchange's founder developed an electronic network of consignment stores. The company sued eBay in 2001.
What followed was a series of appeals after a court ordered in favor of MercExchange in 2003, awarding $35 million in damages.
The case went to the Supreme Court, which ruled in 2006 that judges do not have to block a technology from use when a jury finds a patent violation.
This comes as a relief to eBay, which currently has bigger fish to fry: competing with craigslist, improving its search engine, monetizing Skype and fending off a mutiny of sellers that are angry with its recent fee hike.
