Le Lézard
Classified in: Business
Subject: PLW

Ocean Tomo Serves as Economic Expert in Nation's Two Largest Patent Damage Awards


CHICAGO, Oct. 7, 2020 /PRNewswire-PRWeb/ -- On Monday the Honorable Henry Coke Morgan, Jr. Senior United States District Judge for the Eastern District of Virginia issued the Opinion and Order in the matter of Centripetal Networks, Inc. v. Cisco Systems, Inc., Case No. 2:18-cv-00094.

Following a twenty-two-day bench trial and hearing on damage evidence, conducted live via a video platform, the Court returned a decision on both past damages and interest totaling $1.9 Billion ($1,903,239,288) as well as future royalties, in a range of $700 Million ($754,701,723) to $1.3 Billion ($1,3050,345,753). The Court's future royalty is based on rates of 10.0% (of apportioned net sales for the first 3-year term) and 5.0% (of apportioned net sales for the second 3-year term) over the six-year future damages period. The Judgment in favor of Centripetal Networks set a new high-water mark for damages award in a patent infringement case in the U.S, eclipsing a 2016 decision in Idenix Pharmaceuticals Inc., et al. v Gilead Sciences Inc., et al.

Centripetal called two economic witnesses at trial. The first presented an accounting of the apportioned revenues accused of infringement as well as the applicable reasonable royalty rate. Ocean Tomo's CEO James E. Malackowski testified as the plaintiff's final witness and addressed the options Centripetal held pre-infringement for monetizing its proprietary technology, including through licensing, commercializing or selling the asserted patents. Mr. Malackowski then addressed the adverse impact of Cisco's infringement on Centripetal's ability to realize the true value of its innovations. This evidence was presented to both put the damages claim into context and provide an economic foundation for Centripetal's claim of irreparable harm.

"This was a David versus Goliath situation. We needed an expert who could explain to the Court the impact Cisco's infringement had on our business historically as well as the future harm. Ocean Tomo's insight is unique given the firm's comprehensive damages, valuation and practical market expertise. The Court's ruling tracks Ocean Tomo's teaching" explained Jonathan Rogers, Chief Operating Officer of Centripetal Networks.

Ocean Tomo experts have provided testimony in well over 500 intellectual property matters. In addition to Mr. Malackowski serving as an expert on behalf of Centripetal, the firm's co-founder Andrew W. Carter was the plaintiff's damages expert in the Idenix Pharmaceuticals Inc. case. These two matters represent the two largest patent damage verdicts on record.

About Ocean Tomo

Ocean Tomo, the Intellectual Capital Merchant Banctm firm, provides companies with financial services related to intellectual property and intangible assets including financial expert testimony, intellectual property and complex financial instrument valuation, strategy consulting, risk & regulatory compliance, patent analytics, investment advisory, innovation management consulting and transaction brokerage.

Our Opinion, Management, and Advisory Services are built upon more than three decades of experience valuating intellectual property in the most rigorous of venues ? State, Federal and international courts. Our financial and market experts along with leading technologists provide a unique understanding of the contributory value of proprietary innovation. This is the cornerstone of our business. This insight permeates every practice and client engagement.

Collectively, Ocean Tomo professionals have completed over 1000 engagements involving IP worth in excess of $10 billion including over 300 valuation and 500 financial damages expert testimony engagements.

 

SOURCE Ocean Tomo


These press releases may also interest you

at 11:31
ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market....

at 11:30
SharpQuest, Inc., a software services provider with a niche in cloud and mobile-app solutions, is thrilled to announce the opening of its new branch office in Windsor, Ontario, Canada. This strategic expansion marks a significant milestone in our...

at 11:18
Bloxcross, a premier payment solutions provider, and GoDirectPay, an e-payment expert, have collaborated to launch a groundbreaking mobile application that revolutionizes global payments. https://directpay.blox.global/register/ This custom-built app...

at 11:10
NewMarket Corporation announced today it expects to release first quarter 2024 earnings at the close of business on Wednesday, April 24, 2024. The earnings announcement will also be available on the Company's website at www.NewMarket.com the...

at 11:07
SOCOTEC USA, a leading provider of TIC (Testing, Inspection, and Certification), consulting, and advisory services with a strategic focus on buildings and infrastructure, announces its collaboration with Bisnow to deepen the understanding of the...

at 11:05
Knight Therapeutics Inc. ("Knight" or "the Company") is pleased to announce it will be recognized on The Globe and Mail's 2024 Report on Business magazine's fifth annual Women Lead Here list. This annual editorial benchmark identifies top-level...



News published on and distributed by: