post Friday January 4, 2013
As a result of a recent United States District Court jury ruling, Vringo, a software platform provider for mobile social and video services, was awarded past damages for copyright infringments by technology corporations AOL, Google, Target, Gannett and IAC/InterActive. These damages were worth $32 million.
In addition to the damages awarded, the jury ruled that Vringo, and its merging partner I/P Engine Inc. are guaranteed royalty payments of 3.5% until the patents expire in 2016. When looking at royalty agreement databases like ktMINE , it appears that the 3.5% is on the lower end of agreements for search engine agreements. In spite of the perceieved low royalty rate, the revenue stream is estimated to be worth upwards of $500 million.
The ruling of the District Court jury validates the patent claims by Vringo & I/P Engine Inc. and should make clear validation of the patents that these two entities jointly share.
Source: IP Value Wire
Image source: Free Digital Photos
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