Patent infringement and patent validity lawsuits are more often than not exceptionally complex. Litigation in this area of law requires a highly qualified expert witness with experience in the industry as well as knowledge of the applicable laws and regulations. In a significant patent lawsuit, a New Jersey district court jury has recently ordered an insurance data services firm to pay $125M to an aerial imaging firm for lost profits over patent infringement.
The complaint states:
An insurance data services firm has indirectly infringed and continues to indirectly infringe the ‘436 Patent, in connection with a computer software system company’s rooftop aerial measurement products.
(The aerial imaging firm asked) For damages arising from the computer software system company’s and the insurance data services firm’s infringement of the ‘436, ‘840, ‘152, ‘880, ‘770, ‘732, and ‘454 Patents, including lost profits suffered by two aerial measurement companies as a result of the computer software systems and the insurance data services firms infringement and in an amount not less than a reasonable royalty, together with pre-judgment and post-judgment interest;
In 2014, the insurance data services firm tried to acquire the aerial imaging firm for $650M but the Federal Trade Commission challenged the acquisition. The FTC Chairwoman Releases 2014 Annual Highlights states:
In the technology sector, the FTC took several actions to preserve competition, such as authorizing staff to block the insurance data services firm Analytics proposed $650 million acquisition of the aerial imaging firm. Technology in the growing market for rooftop aerial services. The parties then abandoned the proposed merger.
The New Jersey court issued a TRO prohibiting insurance data services firm from selling some of its products. The court will hold a hearing on October 8, 2019, to consider a permanent injunction.