Samsung Electronics Co., Ltd. (KRX: 005930) is being forced to stop using a few of its designs and features by its competitor Apple Inc. (NASDAQ:AAPL). Apple has submitted an appeal to a court in the US. Apple believes these features and design are its intellectual property and a federal jury last year found them infringed.
Apple’s lawyer, William Lee from the firm Wilmer Hale claims that the company spent $5 billion and a time period of 5 years to create its innovative product.
Apple has been given a total of $1 billion as compensation and some of the damages that are to be paid to Apple will be retried. To clarify its stand, Samsung claims that Apple’s patented ideas had no effect on its loss of market share; the patent violation was denied by Samsung.
Another lawsuit was filed by TI Beverage Group Ltd. – a wine company based in Los Angeles. The lawsuit targets a wine distributor, Terra Firma who has been accused of trademark violation. The lawsuit focuses on wine brands related to vampires. TI has been selling brands using titles, such as “Chateau Du Vampire”, “Dracula”, “Vampire”, and “Vampire Vineyards”; therefore after finding out that Terra Firma has been selling a brand named “Dracula’s Bloodlust” the lawsuit was filed. According to the lawsuit these brands are registered with the US Trademark and Patent Office. TI is requesting that Terra Firma should be asked to stop selling products with titles involving vampires and Draculas.
In another battle for intellectual property, Eaton Corp. submitted its request to the Mississippi Supreme Court on the 5th of August. Eaton Corp is hoping to have a revival of a case involving trade secrets worth $1 billion that was filed against Frisby Aerospace.
The Cleveland-based company was appealing a 2011 dismissal of the case by Mississippi’s Hinds County Circuit Court.
According to the lawsuit filed trade secrets of Eaton Corp were stolen by five engineers The suit involved the alleged theft of Eaton’s trade secrets by five engineers; the engineers gave them to another company.
Shares of Apple Inc. (NASDAQ:AAPL) jumped down by -1.42% and ended at $454.45.