Wednesday, 18 July, 2018

Apple ordered to pay VirnetX $502 million in latest patent lawsuit verdict

Apple Owes VirnetX $502M for Patent Infringements VirnetX +28.1% on Apple patent victory
Olivia Ford | 12 April, 2018, 00:52

(AAPL) after a federal jury in Texas said the maker of iPhones was infringing patents for secure communications, the latest twist in a dispute now in its eighth year. Since 2010 it has been involved in legal battles with Apple over its.

VirnetX is a patent-assertion entity, meaning its entire business model rests exclusively on suing companies that actually develop and sell products based on arcane patent infringement laws and loose interpretations of intellectual property regulations.

The battle between VirnetX and Apple has been ongoing for years.

This could be a short-lived victory for VirnetX, however.

Apple's stock has seen little change on the news given that the $502.6 million award is minuscule compared to the company's profits. Courts have sided with VirnetX in the past and previously awarded the company $302 million. In 2016, the US Patent and Trademark Office's Patent Trial and Appeal Board (PTAB) invalidated four VirnetX patents in a related case, two of which were leveraged in the case decided this week.

In 2017 however, Apple filed an appeal against the US district court verdict, though it lost the case. Damages were based upon sales of more than 400 million Apple devices, according to Bloomberg. This time around, there again reportedly seemed to be no successful streak for the company. That verdict was thrown out by the judge, who didn't approve of VirnetX lawyers' references to the 2012 trial.

The Federal Circuit, which handles all patent appeals, declined to put this trial on hold, saying it was so far along that a verdict would come before a final validity decision.

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