Vringo announces u.s. District court order of post-judgment royalty rate of 6.5% against google for continued and willful patent infringement
Vringo, Inc. (VRNG) today announced that on January 28, 2014, the U.S. District Court for the Eastern District of Virginia, Norfolk Division, issued a Memorandum Opinion and Order related to its wholly-owned subsidiary I/P Engine, Inc.`s litigation against AOL, Google et al. for infringement of its patents through their AdWords system.
In the Order, the Court held that the appropriate ongoing royalty rate for defendants` continued infringement of the patents-in-suit that "would reasonably compensate [I/P Engine] for giving up [its] right to exclude yet allow an ongoing willful infringer to make a reasonable profit" is a rate of 6.5% of the 20.9% royalty base previously set by the District Court.
- Published: 29 January 2014
- Written by Editor