SanDisk Corporation was awarded $28.5 million in damages from PNY Technologies over an alleged breach in a license agreement. PNY was said to owe SanDisk the appropriate amount owed concerning the right to license SanDisk's intellectual property.
SanDisk claims to be a pioneer flash memory industry and says it is making changes to the storage industry as well. Its investments have reportedly resulted in more than 4,900 patents concerning flash memory.
The chief legal officer and senior vice president of SanDisk stated the ruling reaffirmed the valuable nature of SanDisk's patent portfolio. "The ruling demonstrates the necessity of a strong patent system that protects technology companies' investments in research and development," he stated. He also reiterated that SanDisk will continue defending its investments in intellectual property.
This matter demonstrates the importance that companies have placed upon license agreements and other intellectual property concerns. It also demonstrates that juries are willing to return large verdicts when these types of cases are taken to trial. For this reason experienced business law attorneys should be retained if the possibility of a lawsuit arises.
Whether in Colorado or other parts of the country, attorneys can provide counsel and guidance concerning various regulatory issues. They can also review all license agreements and contracts to make certain nothing is out of sync.
Contract matters, license agreement disputes and other legal concerns generally are not litigated unless there is a great deal of costs at stake. Yet such matters must be handled with care or the business may suffer even more damage. Lawsuits can be costly and should be avoided if at all possible.
Source: The Wall Street Journal, "Jury Awards SanDisk $28.5 Million in IP Dispute With PNY Technologies," March 11, 2014