Re: Burst.com & Apple Sign Agreement in Principle to Settle Case
in response to
by
posted on
Nov 22, 2007 06:46AM
INTERESTING PART FROM PRESS RELEASE
SAN FRANCISCO (MarketWatch) -- Burst.com Inc. said Wednesday it has settled a lawsuit filed against Apple Inc. for infringing patents related to technology used to store and transfer video and audio files, and will receive a one-time cash licensing payment of $10 million. Burst (BRST:
BRST 0.55, +0.03, +5.8%) said in a statement that it in turn has agreed not to sue Apple (AAPL:
Apple Inc
Last: 168.46-0.39-0.23%
4:00pm 11/21/2007
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AAPL 168.46, -0.39, -0.2%) in the future for infringing patents related to the technology. Burst sued Apple in 2006 for infringing the patents, which it said covered technology used in Apple's popular iPod devices. "Burst plans to continue identifying and evaluating companies who represent licensing opportunities," the company said in the statement.