PayPal has sued Google and two top executives, both of whom used to work with PayPal. PayPal alleges that Google has stolen trade secrets from the company in order to get into the mobile payment business. Those who kept up with the tech news yesterday no doubt heard about Google Wallet. A mobile payment system that lets users use their smartphone in place of their credit card for purchases. PayPal announced the lawsuit publicly on May 26, saying the following:
"We spend a lot of time and energy creating the things that make PayPal unique and a preferred way to pay for almost 100 million people around the world. We treat PayPal‚Äö√Ñ√¥s ‚Äö√Ñ√∫secrets‚Äö√Ñ√π seriously, and take it personally when someone else doesn‚Äö√Ñ√¥t. So we made a decision today. We filed a lawsuit against Google and two former colleagues who now work there, Osama Bedier and Stephanie Tilenius."
You can also read the entire complaint, which PayPal has linked to.
We appreciate the company's willingness to open up and explain their stance in this situation, even though they don't really have to.
[Via official PayPal Blog]