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PayPal (view source)

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==Legal Battle==

===CertCo Patent Infringement Lawsuit===

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In February 2002, the Initial Public Offering of PayPal was delayed due to a patent infringement lawsuit filed by [[CertCo]], a private online security and risk management company based in New York.<ref>[http://news.cnet.com/2100-1017-830235.html?tag=mncol;txt PayPal delays IPO]</ref> CertCo alleged that PayPal's electronic system infringed its patent no. 6,029,150 (Payment and Transactions in Electronic Commerce System), which was awarded by the United States Patent Office ([[~~USPO~~]]) on February 22, 2000.<ref>[http://www.internetnews.com/ec-news/article.php/970181/CertCo+Lawsuit+Postpones+PayPal+IPO.htm CertCo Lawsuit Postpones PayPal IPO]</ref> PayPal denied CertCo's allegations and described it a deliberate attempt to disrupt its initial public offering.<ref>[http://news.cnet.com/PayPal-Lawsuit-designed-to-delay-IPO/2110-1017_3-834040.html?tag=mncol;1n PayPal: Lawsuit designed to delay IPO]</ref> On April 2002, PayPal settled the lawsuit with CertCo. According to them the settlement agreement involved "a non-consequential payment and mutual releases." The details of the settlement agreement were not disclosed to the public.<ref>

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In February 2002, the Initial Public Offering of PayPal was delayed due to a patent infringement lawsuit filed by [[CertCo]], a private online security and risk management company based in New York.<ref>[http://news.cnet.com/2100-1017-830235.html?tag=mncol;txt PayPal delays IPO]</ref> CertCo alleged that PayPal's electronic system infringed its patent no. 6,029,150 (Payment and Transactions in Electronic Commerce System), which was awarded by the United States Patent and Trademark Office ([[USPTO]]) on February 22, 2000.<ref>[http://www.internetnews.com/ec-news/article.php/970181/CertCo+Lawsuit+Postpones+PayPal+IPO.htm CertCo Lawsuit Postpones PayPal IPO]</ref> PayPal denied CertCo's allegations and described it a deliberate attempt to disrupt its initial public offering.<ref>[http://news.cnet.com/PayPal-Lawsuit-designed-to-delay-IPO/2110-1017_3-834040.html?tag=mncol;1n PayPal: Lawsuit designed to delay IPO]</ref> On April 2002, PayPal settled the lawsuit with CertCo. According to them the settlement agreement involved "a non-consequential payment and mutual releases." The details of the settlement agreement were not disclosed to the public.<ref>

[http://www.internetnews.com/bus-news/article.php/1023191/CertCo+Drops+PayPal+Patent+Suit.htm CertCo Drops PayPal Patent Suit]</ref>

Marie Cabural

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