“A U.S. District Court has upheld an earlier decision by a federal jury last year to award intellectual property and patent holding firm VirnetX more than $368.2 million, after Apple was found to have infringed patents related to the networking technology used it its FaceTime video chat service,” Zack Whittaker reports for CNET.
“Meanwhile, as first noted by Seeking Alpha, Apple must award VirnetX more than $330,000 per day until the case is settled, forcing the companies to hammer out agreements between themselves,” Whittaker reports. “The ‘royalty’ mediation settlement will require the two firms to thrash out exactly how much Apple should pay for any further use of VirnetX’s patents.”
Whittaker reports, “While Apple’s offering of FaceTime is likely not at risk for the end customer, the terms of the settlement will need to be decided upon by both firms sooner rather than later to prevent any further damages being added to the case.”
Read more in the full article here.
MacDailyNews Take: That explains those popping sounds we’ve bee hearing all morning; the champagne corks are flying at VirnetX.
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