Thomas G. Woolston
Encyclopedia
Thomas G. Woolston is the patent
ed inventor of several important online auction technologies. He is also the founder of MercExchange
.
Mr. Woolston served in the US Air Force, has an undergraduate degree in electrical engineering
from George Washington University
and a law degree. He has also worked for the CIA.
In 1995 Woolston filed his first patent application on on-line auction technology. The patent was granted in December 1998. He then founded MercExchange
to commercialize his technology. He has since had several other patents issue along with other coinventors.
eBay
approached MercExchange to purchase the Woolston patents. Negotiations broke down when Woolston discovered that eBay was already infringing the patents. He sued eBay for patent infringement. The patents were found to be valid and willfully infringed. Damages to MercExchange by eBay's infringement were initially assessed at $35 million (later reduced to $25 million).
Patent
A patent is a form of intellectual property. It consists of a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time in exchange for the public disclosure of an invention....
ed inventor of several important online auction technologies. He is also the founder of MercExchange
MercExchange
MercExchange is a technology development and on-line auction company. Their founder's name is Thomas G. Woolston.-Licensees:The following companies have licensed MercExchange technology as of April 2007 * AutoTrader.com* Channeladvisor* uBid...
.
Mr. Woolston served in the US Air Force, has an undergraduate degree in electrical engineering
Electrical engineering
Electrical engineering is a field of engineering that generally deals with the study and application of electricity, electronics and electromagnetism. The field first became an identifiable occupation in the late nineteenth century after commercialization of the electric telegraph and electrical...
from George Washington University
George Washington University
The George Washington University is a private, coeducational comprehensive university located in Washington, D.C. in the United States...
and a law degree. He has also worked for the CIA.
In 1995 Woolston filed his first patent application on on-line auction technology. The patent was granted in December 1998. He then founded MercExchange
MercExchange
MercExchange is a technology development and on-line auction company. Their founder's name is Thomas G. Woolston.-Licensees:The following companies have licensed MercExchange technology as of April 2007 * AutoTrader.com* Channeladvisor* uBid...
to commercialize his technology. He has since had several other patents issue along with other coinventors.
eBay
EBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
approached MercExchange to purchase the Woolston patents. Negotiations broke down when Woolston discovered that eBay was already infringing the patents. He sued eBay for patent infringement. The patents were found to be valid and willfully infringed. Damages to MercExchange by eBay's infringement were initially assessed at $35 million (later reduced to $25 million).