LVHM Moet Hennessy, Louis Vuitton and eBay finally made a settlement on a lengthy court battle on its sale of counterfeit good on eBay’s site.
Firms are deploying cooperative measures made at shielding intellectual property rights and fighting counterfeit good sales online.
A number of cosmetic and perfume brands under the LVMH sued eBay in 2008, alleging the site of counterfeit goods trading. LVMH also said that sales of real perfume products via non-approved distribution mediums like eBay is hurting the business.
In 2008, a French court demanded eBay to make a payment of 38.5 million euros. The court of appeals lessened the amount to 5.7 million euros but stated that eBay has been doing it wrong all along.
Four years later, the French court of appeals ruled that the lower court didn’t have any jurisdiction on eBay’s site but maintained the ruling as deployed in English and French sites.
LVHMH shares slumped to 0.6% early on Thursday.