Business · December 24, 2020 0

IBM and Airbnb Announce Settlement in Patent Litigation

ARMONK, NY (STL.News) IBM (NYSE: IBM) and Airbnb (NASDAQ: ABNB) Wednesday announced that they have settled the patent lawsuit between the companies commenced earlier this year in Federal District Court in Delaware, and the case has been dismissed.  The terms of the settlement are confidential.

Dr. William Lafontaine, IBM’s general manager of intellectual property, said: “IBM invests more than $5 billion annually in research and development.  This agreement further demonstrates the value of our intellectual property that results from this innovation.  We’re pleased this matter has been resolved.”

Why should it be lawful for a settlement between two publicly traded companies be held confidential?  Information involving trade secrets should be held confidential to protect the assets of the company, but terms of a settlement should be public.

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