LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Waymo and Uber settle trade secrets dispute, Uber CEO expresses 'regret'

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Fri, Feb 09, 2018
10:34 pm
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

Alphabet Inc`s Waymo self-driving vehicle unit and ride-hailing firm Uber Technologies Inc settled a bitter legal dispute, allowing Uber`s new chief executive to move past one of the company`s many public controversies.

The settlement announcement was made just before the fifth day of testimony was about to begin at a jury trial in San Francisco federal court.

Uber agreed to pay equity valued at about $245 million as part of the deal between the rival technology companies, a Waymo representative said. The settlement also includes an agreement "to ensure that any Waymo confidential information is not being incorporated in Uber Advanced Technologies Group hardware and software," a Waymo representative said.

Uber CEO Dara Khosrowshahi expressed "regret" for the company`s actions.

"While we do not believe that any trade secrets made their way from Waymo to Uber, nor do we believe that Uber has used any of Waymo’s proprietary information in its self-driving technology, we are taking steps with Waymo to ensure our Lidar and software represents just our good work," Khosrowshahi said in a statement.

The settlement allows Khosrowshahi to put another scandal behind the company after the tumultuous leadership of the firm by former CEO Travis Kalanick, who testified at the trial on Tuesday and Wednesday.

Waymo had previously estimated damages in the case at about $1.9 billion, which Uber rejected.

Waymo`s lawsuit said that one of the company`s former engineers, Anthony Levandowski, downloaded more than 14,000 confidential files containing designs for autonomous vehicles in December 2015 before he went on to work at Uber in 2016, leading the ride-hailing firm`s self-driving car unit.

The case had hinged on whether Uber used the trade secrets to further its autonomous vehicle program.

Levandowski has never publicly addressed the allegations of taking the documents and law enforcement has not charged anyone with their theft. Levandowski was not a defendant in the case.

Autonomous cars offer a multi-billion-dollar opportunity to remake transportation, and companies including Apple Inc, General Motors Co, Ford Motor Co, Volkswagen AG and scores of startups are competing to develop the technology.

In Kalanick`s second day of trial testimony, Waymo sought to portray him as so eager to improve Uber`s lagging autonomous car business that he did a deal with Levandowski without properly assessing the risks.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

7th Pay Commission: CONFIRMED! 3% DA, DR hike for government employees, pensioners of THIS state from March 1

7th Pay Commission Latest News: Check out these vacancies notified by UPSC; salary up to Rs 1,77,500 plus DA and other allowances

IIT Bombay releases GATE 2021 answer key—This is how you can check and raise objection

Assembly polls dates declared: Check full schedule for West Bengal, Tamil Nadu, Kerala, Assam and Puducherry elections here

ISRO First Mission in 2021: Countdown begins for launch of Brazilian satellite Amazonia1 and 18 co-passenger satellites onboard PSLVC51

Google fires 150 game developers hired for Stadia: Report

Covid 19 2nd phase vaccination drive from March 1: EXPLAINED! Who are eligible, required photo identity, advance self-registration—All you need to Know

Sovereign Gold Bond Scheme 2021: Issue Price fixed at Rs 4,662/gm

RailTel Corporation makes strong debut on bourses

West Bengal, Assam, Kerala, Tamil Nadu and Puducherry election dates announced; polls begin on 27th March; results to be declared on 2nd May

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved