What is the role of an economics expert witness? These professionals are experienced in business valuation, damage calculation, profit and loss, lost earnings, and other aspects of business finance. In the realm of intellectual property patents, it is often difficult to assign a monetary value to assets. In patent infringement conflict, the determination and evaluation of damages is a necessary step in the process. An economist recently testified for Qualcomm against Apple regarding alleged patent violations. The U.S. District Court, Southern District of California (San Diego) # 3:17-cv-01375-DMS-MDD, Qualcomm Incorporated v. Apple Incorporated, was filed 07/06/2017.
While Qualcomm has demanded that Apple pay $31M in damages, alleging that iPhones with Intel radio chips violate three of its patents, Apple takes the opposite stance. In the defendant’s 11/29/17 Amended Answer and Counterclaims, Apple argued:
Qualcomm has struggled mightily to maintain its monopoly position through intimidation, litigation, and manipulation, for all the reasons set forth in the copending matter before this Court, 3:01-cv-108-GPC-MDD. The weak patents Qualcomm asserts here for the first time appear to be a blatant effort to take credit for the innovation of others.
One of the patents in dispute allows a smartphone to quickly connect to the internet while another addresses graphics processing and battery life. A third patent lets apps download data more easily by directing traffic between the processor and the modem.
Oral arguments concluded March 13, 2019, and on March 15, 2019, a San Diego jury voted that Apple infringed on all three of the patents in question. Apple must pay Qualcomm the full $31M in damages. The next trial is scheduled to begin on April 15, 2019. Apple and Qualcomm will meet in San Diego to argue over Qualcomm’s licenses.
In August 2018, Apple Inc. became the first American company to be worth over $1 trillion US. Qualcomm Incorporated was valued at over $91.9 billion US in September 2018.
The correct valuation of intellectual property patents is critical in litigation. The economics expert witness brings knowledge and experience essential to guarantee a fair recovery of damages. ForensisGroup is a national industry leader with thousands of vetted and highly qualified expert witnesses who are accomplished leaders in their respective industries. Contact ForensisGroup to be connected with a top expert witness hand selected for your case.