In its second-largest acquisition, Amazon buys the company for $970 million.
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With a wave of patent infringement problems now hitting more retailers, merchants need to keep abreast of changes to how patent law is changing, says Lee Cheng, general counsel, corporate secretary and vice president of human resources for e-retailer Newegg Inc. (No. 12). “The best thing to do is to fight each infringement issue when it comes up," says Cheng. “The worst thing would be to nothing and get labeled as a potentially easy mark.”
Newegg and Overstock.com Inc. (No. 27) won a patent infringement case involving e-commerce technology in October, a ruling that patent attorneys call significant, and which could make it harder for patent holders to pursue similar cases. Cheng will speak on patent infringement issues on June 6 from 1:45 p.m. to 2:30 p.m. at the Internet Retailer Conference & Exhibition in Chicago in session entitled “Fighting back against patent suits: What to do and how to do it.”