Posted on Monday, July 28th, 2014 at 3:09 am
eBay, the successful consumer-to-consumer internet company and LVMH Moet Hennessy, a luxury goods company have reached a settlement regarding an intellectual property lawsuit that began. In 2008 LVMH, the parent company of brands such as Louis Vuitton and Christian Dior, first brought the suit against eBay for selling fake goods.
According to LVMH, ninety percent of the company products sold on eBay are counterfeits, and that selling these fake goods harms the company’s business. The companies released a joint statement saying that they had reached an agreement for an undisclosed amount of money.
A judge ruled in 2008 that eBay would have to pay LVMH over $52.1 million, but a later appeal reduced the amount to $7.7 million. eBay did not have to pay this amount when a later court ruling found that the French judge who made the ruling did not have jurisdiction over the United States-based internet company. However, the ruling stood regarding British and French domains owned by eBay.
At Bayko, Prebeg, Faucett & Abbott PLLC, our lawyers have years of experience with intellectual property cases of all kinds. If another person or company has used your intellectual property without permission, you may be able to take legal action to pursue compensation. Call (832) 742-9260 today to speak with one of our intellectual property lawyers and let us put our considerable experience to work fighting for you.