RIM to Pay Visto $267M in Patent Case
The companies said they have entered into a definitive agreement to settle all outstanding patent litigation between them with RIM (NSDQ: RIMM) to receive a perpetual and fully paid license on all Visto patents.
The wireless industry has been rife with litigation over intellectual property, particularly as the industry grows rapidly. In 2006, RIM paid patent holding company NTP $612.5 million after lengthy litigation. After the NTP case was settled, RIM complained of a "patent system in obvious need of reform." In recent months, the U.S. Supreme Court and Congress have focused renewed attention on the patent system.
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– W. David Gardner, InformationWeek