Word: ebay
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Cruise around eBay, and you may decide that auctions are too troublesome. If you gotta have that Balenciaga sweater, nothing beats the Buy It Now feature; simply meet the seller's price, and it's yours. Without that feature, in fact, eBay would make a lot less money. Fixed-price transactions accounted for about $14.6 billion in merchandise volume last year, a third of the total. So let's say you came up with that Buy It Now idea and filed for a patent. And let's say a jury concluded that eBay willfully infringed on your patent and owes...
...eBay's fight against a Virginia company called MercExchange illustrates how small firms swat away at larger ones, at great cost to both. In 2001 MercExchange founder Tom Woolston, a former military pilot and CIA network engineer, sued eBay, claiming that the company infringed on three patents he filed in the mid-'90s, including one that set out methods for fixed-price online auctions (the so-called Buy It Now patent). In 2003 a jury ruled in Woolston's favor and awarded $35 million in damages...
...through shutterfly.com snapfish com or photoworks.com But it makes little sense to go digital if your computer is from the Stone Age. If you're running Windows 98 or XP, or using a new Mac, you should do fine. Your old camera? That's another story--it's called eBay...
...Imagine Owning Your Own Town and Zip Code!" the eBay ad screams. "The starting bid will be $1,750,000. Enjoy eighty-three acres of lush, green hillsides, a roaring river, swimming holes, sweeping mountain views, warm sunshine and riverfront acreage. Property includes houses, cabins and commercial buildings with rental income...
...Bridgeville won fame as the first town to be auctioned on eBay in 2002, with a winning bid of $1.77 million. The sellers turned to the Internet auction site after real estate agents couldn't unload the unincorporated town - with no grocery store, gas station or restaurant - that's accessible only from a two-lane highway. But the eBay buyer vanished after discovering during a visit that the spot 260 miles north of San Francisco was teaming with abandoned shacks, garbage and decrepit buildings. After a succession of spooked online buyers also backed away, Bruce Krall, a commercial mortgage banker...