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Line 54: − In February 4 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 25 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>+ − − + − On September of 2002, another patent infringement case was filed against PayPal by First USA Bank, N.A., a subsidiary of Bank One Corporation. The company claimed that PayPal infringed its two patents; one was the use of telephone numbers and personal identification numbers and the use of e-mail addresses as transaction identifiers for its cardless payment system. First USA Bank asked the court to issue an injunction order to stop PayPal from using its payment system. In addition the company asked for financial damages from PayPal. On the other hand, PayPal denied the accusations and promised to fight the case in the court.<ref>[http://www.pcworld.com/article/104855/paypal_hit_with_patent_infringement_lawsuit.html PayPal Hit With Patent Infringement Lawsuit]</ref> <ref>[http://www.finextra.com/news/fullstory.aspx?newsitemid=6677 Paypal rebuffs First USA patent infringement suit]</ref>+ − + − + − − ==ICANN Involvement== − [[Bill Smith]], PayPal's technology evangelists serves as the company's advocate and representative to the [[ICANN|Internet Corporation forAssigned Names and Numbers]] particularly on issues related to the reliability, security and stability of the internet.He also represents PayPal at the [[Internet Governance Forum|IGF]], [[American Registry for Internet Numbers|ARIN]], [[World Summit on the Information Society|WSIS]], [[International Telecommunications Union|ITU]] and the [[Internet Engineering Task Force|IETF]].<ref>[http://www.intgovforum.org/cms/index.php/component/chronocontact/chronoformname=2011PanelistBioView&wspid=309 Panelists Biographies 2011 Worshops]</ref> He is also a member of the Security, Stability and Resiliency of the DNS Review Team (SSR RT] and the [[Whois]] Policy Review Team of the [[Generic Names Supporting Organization|GNSO]].<ref>[http://gnso.icann.org/aoc-reviews/dns-ssr-en.htm Security, Stability and Resiliency of the DNS Review Team Composition]</ref> <ref>[http://gnso.icann.org/aoc-reviews/whois-policies-en.htm WHOIS Policy Review Team Composition]</ref> − − In 2011, PayPal participated during the [[ICANN 40]] meeting regarding the deployment of the [[DNSSEC]]. The company was represented by Andy Steingruebl, PayPal's Internet standards and governance manager.During the meeting he expressed the company's commitment in supporting DNSSEC and started signing the technology to its smaller and lesser used sites before signing its main site.<ref> − [http://www.afilias.info/blogs/ram-mohan/beyond-top-level-dnssec-deployment-icann-40 Beyond the Top Level: DNSSEC Deployment at ICANN 40]</ref> − +
removed Category:Companies using HotCat
===International Expansion===
===International Expansion===
In 2004, PayPal was introduced as payment option for eBay consumers in United Kingdom. In 2005, PayPal opened its first office in China and introduced its website under the simplified Chinese Name BeiBao 贝宝在中国推出。. By 2006, the company had expanded in 103 markets and started accepting payments in different currencies. By 2007, PayPal introduced the VISA debit or credit card as a new method to withdraw money for users in 23 countries. PayPal users in the Philippines, Indonesia and India are able to withdraw their money through their local bank account. Sinn 2008, the company has been operating different sites in Asia using 8 different languages. At present, PayPal has 153 million accounts within 173 countries and accepting transactions in 24 currencies around the world.<ref>[http://www.paypal-apac.com/sg/about-paypal/history-of-paypal.aspx PayPal History]</ref>
In 2004, PayPal was introduced as payment option for eBay consumers in United Kingdom. In 2005, PayPal opened its first office in China and introduced its website under the simplified Chinese Name BeiBao 贝宝在中国推出。. By 2006, the company had expanded in 103 markets and started accepting payments in different currencies. By 2007, PayPal introduced the VISA debit or credit card as a new method to withdraw money for users in 23 countries. PayPal users in the Philippines, Indonesia and India are able to withdraw their money through their local bank account. Sinn 2008, the company has been operating different sites in Asia using 8 different languages. At present, PayPal has 153 million accounts within 173 countries and accepting transactions in 24 currencies around the world.<ref>[http://www.paypal-apac.com/sg/about-paypal/history-of-paypal.aspx PayPal History]</ref>
==ICANN Involvement==
[[Bill Smith]], PayPal's technology evangelist, serves as the company's advocate and representative to [[ICANN]] and is particularly involved in issues related to the reliability, security and stability of the Internet. He is also a member of the Security, Stability and Resiliency of the DNS Review Team (SSR RT) and the [[Whois]] Policy Review Team in the [[Generic Names Supporting Organization|GNSO]].<ref>[http://gnso.icann.org/aoc-reviews/dns-ssr-en.htm Security, Stability and Resiliency of the DNS Review Team Composition]</ref> <ref>[http://gnso.icann.org/aoc-reviews/whois-policies-en.htm WHOIS Policy Review Team Composition]</ref> He also represents PayPal at the [[Internet Governance Forum|IGF]], [[American Registry for Internet Numbers|ARIN]], [[World Summit on the Information Society|WSIS]], [[International Telecommunications Union|ITU]] and the [[Internet Engineering Task Force|IETF]].<ref>[http://www.intgovforum.org/cms/index.php/component/chronocontact/chronoformname=2011PanelistBioView&wspid=309 Panelists Biographies 2011 Worshops]</ref>
In 2011, PayPal participated during the [[ICANN 40]] meeting in discussions regarding the deployment of the [[DNSSEC]]. The company was represented by [[Andy Steingruebl]], PayPal's Internet standards and governance manager. During the meeting, he expressed the company's commitment for supporting DNSSEC and noted that the company had started signing the technology to its smaller and lesser used sites before signing its main site.<ref>
[http://www.afilias.info/blogs/ram-mohan/beyond-top-level-dnssec-deployment-icann-40 Beyond the Top Level: DNSSEC Deployment at ICANN 40]</ref>
==Awards & Recognition==
==Awards & Recognition==
==Legal Battle==
==Legal Battle==
===Patent Infringement Lawsuits===
===Patent Infringement Lawsuits===
On February 4 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 25, 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>
[http://www.internetnews.com/bus-news/article.php/1023191/CertCo+Drops+PayPal+Patent+Suit.htm CertCo Drops PayPal Patent Suit]</ref>
A second patent infringement case was filed by Tumbleweed Communications at the US District Court of Northern California on May 7, 2002. Tumbleweed Communications claimed that PayPal violated its electronic notification processes and document storage and retrieval patents. E-bay, the parent company of PayPal agreed to settle the legal charges under a cross licensing agreement o December of the same year.<ref>[http://www.crn.com/news/channel-programs/18840325/ebay-settles-patent-lawsuit-with-tumbleweed-communications.htm;jsessionid=CZrcnTI-iIRmXGEuXaVVUA**.ecappj03 EBay Settles Patent Lawsuit With Tumbleweed Communications]</ref>
A second patent infringement case was filed by Tumbleweed Communications in the US District Court of Northern California on May 7, 2002. Tumbleweed Communications claimed that PayPal violated its electronic notification processes and document storage and retrieval patents. E-bay, the parent company of PayPal agreed to settle the legal charges under a cross licensing agreement in December of the same year.<ref>[http://www.crn.com/news/channel-programs/18840325/ebay-settles-patent-lawsuit-with-tumbleweed-communications.htm;jsessionid=CZrcnTI-iIRmXGEuXaVVUA**.ecappj03 EBay Settles Patent Lawsuit With Tumbleweed Communications]</ref>
In September, 2002, another patent infringement case was filed against PayPal by First USA Bank, N.A., a subsidiary of Bank One Corporation. The company claimed that PayPal infringed its two patents; one was the use of telephone numbers and personal identification numbers and the use of e-mail addresses as transaction identifiers for its cardless payment system. First USA Bank asked the court to issue an injunction order to stop PayPal from using its payment system. In addition, the company asked for financial damages from PayPal. PayPal denied the accusations and promised to fight the case in court.<ref>[http://www.pcworld.com/article/104855/paypal_hit_with_patent_infringement_lawsuit.html PayPal Hit With Patent Infringement Lawsuit]</ref><ref>[http://www.finextra.com/news/fullstory.aspx?newsitemid=6677 Paypal rebuffs First USA patent infringement suit]</ref>
===Class Action Lawsuit===
===Class Action Lawsuit===
PayPal faced another legal battle in 2002 days after its Initial Public Offering. A class action lawsuit was filed by the law firm Jacoby & Meyers in behalf of consumers at California Superior Court in Santa Clara County alleging that the company violated the Federal Electronic Fund Transfer Act. According to Atty. Gail Koff, PayPal locked a customer's account instead of freezing, the amount of transaction in question when it suspects that a fraud has been committed. Since the consumers entire accounts were frozen, they weren't able to make any business transactions (send and receive payments). They claimed that PayPal's restriction to their accounts is illegal. <ref>[http://news.cnet.com/2100-1017-842240.html PayPal hit by class-action suit]</ref> A similar class action lawsuit was filed by Girard, Gibbs & De Bartolomeo, a law firm in San Francisco at the U.S. District Court for the Northern District of California.<ref>[http://news.cnet.com/PayPal-customers-sue-in-federal-court/2110-1017_3-860582.html?tag=mncol;txt PayPal customers sue in federal court]</ref> In 2004, PayPal settled the class action lawsuit and agreed to pay $9.25 million which will be distributed to all the complainants. The administrative costs and legal fees were included in the settlement.<ref>[http://www.auctionbytes.com/cab/abn/y04/m07/i30/s01 PayPal Sends Users Notice of Class-Action Lawsuit Settlement]</ref>
PayPal faced another legal battle in 2002, just days after its Initial Public Offering. A class action lawsuit was filed by the law firm Jacoby & Meyers on behalf of consumers, alleging that the company violated the Federal Electronic Fund Transfer Act. According to Atty. Gail Koff, PayPal locked customers' accounts instead of freezing for the amount of transaction in question when it suspects that a fraud has been committed. Since the consume'rs entire accounts were frozen, they weren't able to make any business transactions. They claimed that PayPal's restriction of their accounts is illegal.<ref>[http://news.cnet.com/2100-1017-842240.html PayPal hit by class-action suit]</ref> A similar class action lawsuit was filed by Girard, Gibbs & De Bartolomeo, a law firm in San Francisco at the U.S. District Court for the Northern District of California.<ref>[http://news.cnet.com/PayPal-customers-sue-in-federal-court/2110-1017_3-860582.html?tag=mncol;txt PayPal customers sue in federal court]</ref> In 2004, PayPal settled the class action lawsuit and agreed to pay $9.25 million, to be distributed to all the complainants. The administrative costs and legal fees were included in the settlement.<ref>[http://www.auctionbytes.com/cab/abn/y04/m07/i30/s01 PayPal Sends Users Notice of Class-Action Lawsuit Settlement]</ref>
===Shareholders Lawsuit===
===Shareholders Lawsuit===
On July 7, 2002, two shareholders of PayPal filed a lawsuit against the company's merger with eBay. The shareholders claimed that eBay's proposed price for the Paypal stocks is "inadequate and unfair", which is 0.39 eBay shares for every PayPal share. The total value of the transaction was $1.5 billion. Despite the objections, the Department of Justice cleared the Ebay and PayPal merger after conducting an investigation. <ref>[http://www.zdnet.com/news/paypal-ebay-hit-with-shareholder-lawsuit/124018 PayPal, eBay hit with shareholder lawsuit]</ref>
On July 7, 2002, two shareholders of PayPal filed a lawsuit over the company's merger with eBay. The shareholders claimed that eBay's proposed price for the Paypal stocks is "inadequate and unfair", which is 0.39 eBay shares for every PayPal share. The total value of the transaction was $1.5 billion. Despite the objections, the Department of Justice cleared the Ebay and PayPal merger after conducting an investigation.<ref>[http://www.zdnet.com/news/paypal-ebay-hit-with-shareholder-lawsuit/124018 PayPal, eBay hit with shareholder lawsuit]</ref>
<ref>[http://news.cnet.com/2100-1017-954551.html?tag=mncol;txt eBay-PayPal deal clears federal scrutiny]</ref>
<ref>[http://news.cnet.com/2100-1017-954551.html?tag=mncol;txt eBay-PayPal deal clears federal scrutiny]</ref>
==References==
==References==
{{reflist}}
{{reflist}}
[[Category:Companies]]
[[Category:E-Commerce]]