EBay Inc. settled a seven-year patent dispute that it had with MercExchange LLC which prompted an important intellectual-property ruling from the U.S. Supreme Court, according to an online article at Yahoo News from the Associated Press.
EBay said that it bought the three MercExchange patents that it had been accused of violating, for an undisclosed price. EBay added that the figure would not materially affect its financial results.
The Great Falls, Va. based MercExchange sued eBay back in 2001, saying that eBay's "Buy It Now" option, which lets sellers make items available at set prices, infringed on MercExchange patents.
See EBay Ends Patent Suit With MercExchange for the full article.