Apple to Pay US$ 50 Million in Lawsuit
Federal court in Texas ordered Apple to pay US$ 502.6 million to a patent troll called VirnetX, on April 10, 2018.
In 2010, VirnetX said that Apple infringed on four of its patents related to internet-based communications. The companies have been involved in an eight-year-old legal battle over FaceTime and iMessage patents. In October 2017, Apple was ordered to pay US$ 439.7 million, to the patent company for the infringement.
VirnetX is a Zephyr Cove, Nevada based-company, involved in patent-assertion, whose business model solely revolves around suing companies that actually develop and sell products based on arcane patent infringement laws and loose interpretations of intellectual property regulations. VirnetX filed a lawsuit in patent troll-friendly East Texas, in 2017.
VirnetX, said “portfolio of intellectual property is the foundation of our business model.” The company’s stock rose 44 percent as of April 2018, as the federal ruling was declared to have been in favor of the company. The U.S. Court of Appeals for the Federal Circuit in Washington is currently reviewing cases in which the Patent Trial and Appeal Board claims the patents in question are in fact invalid.
As of now the Apple is required to pay the patent troll US$ 50 million, for successful accusations on the company for infringement.
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