Mountain View, Calif. – Just as the company announced its new Google Wallet mobile payments service, Google’s (NASD: GOOG) new competitor in the space, eBay’s (NASD: EBAY) PayPal, has filed a trade secrets lawsuit against Google and two former PayPal employees who are credited with developing the service.

The trade secrets lawsuit targets former PayPal employees Osama Bedier and Stephanie Tilenius.

“Sometimes the behaviors of people and competitors make legal action the only meaningful way for a company to protect one of its most valuable assets — its trade secrets,” PayPal wrote on its blog.

“We treat PayPal’s ‘secrets’ seriously, and take it personally when someone else doesn’t.”

For its part, Google denied the claims.

“Silicon Valley was built on the ability of individuals to use their knowledge and expertise to seek better employment opportunities, an idea recognized by both California law and public policy. We respect trade secrets, and will defend ourselves against these claims,” Google said in a statement published by TechCrunch.


Related Links:
(PayPal blog)