In a turn of events, Uber and Waymo have settled their contentious lawsuit over self-driving cars and the technology inside them. The agreement between Uber and Waymo ends a high-stakes lawsuit that already cost the ride-hailing giant its top driverless car engineer and threatened to further embarrass the company.
The agreement will see Uber Technologies Inc. pay Waymo roughly $245 million and provide 0.34% of Uber equity. The settlement resolves a trial that focused on what employees – primarily engineers- take with them when they leave their employers. Answers to this question had a huge impact on two of the key players in the budding driverless car industry.
In Uber’s Friday statement, new CEO Dara Khosrowshahi apologized to Waymo, agreed to pay the fine and promised Uber would clean up its act. Neither he nor Uber admitted to obtaining trade secrets.
“While I cannot erase the past, I can commit, on behalf of every Uber employee, that we will learn from it, and it will inform our actions going forward,” Khosrowshahi wrote. “As we change the way we operate and put integrity at the core of every decision we make, we look forward to the great race to build the future.”
Uber has also committed to a legally binding agreement that they will not use Waymo hardware or software intellectual property in their own self-driving car technology.
This is an update to the to Waymo v. Uber case. The original post can be found here: https://everydayiplaw.com/in-silicon-valley-former-employee-took-way-mo-than-work-skills-waymo-v-uber