Many business owners in Houston are probably aware that electronics giant Apple is suing Samsung in federal court for allegedly violating several of Apple's patents. The intellectual property dispute arose over both companies' smartphones. This matter will be translated into business litigation in the United States.
If you do not know, the fight is extremely significant for both companies. Millions of dollars and control of the global market for smartphones is on the line. Samsung has countersued claiming that Apple has infringed on two of its mobile-technology patents and three of its utility patents. The CEOs of both companies met to negotiate a settlement, but no agreement could be reached.
Despite the fact that the lawsuit is taking place just miles from Apple's headquarters, experts do not think Apple will have much of an advantage with potential jurors.
A small business may never have to worry about an international intellectual property dispute; however, a company does need to make sure it protects its intellectual property rights. These could include trademarks, patents, trade secrets and copyrighted materials. Intellectual property is a valuable and crucial part of many businesses.
Fortunately, there are many legal protections in the field of intellectual property, and experienced professionals can help a business owner correctly apply the laws. Businesses can find themselves wrapped up in many types of disputes. Sometimes, there can be many different avenues to take in approaching a business conflict. For this reason, it is always a good idea to have an understanding of how the law can affect your business.
Source: Bloomberg, "Apple, Paddy Power, Perdue, Netflix: Intellectual Property," Victoria Slind-Flor, July 31, 2012