Microsoft settles with Burst.com for USD 60 Million
March 14th, 2005 Leave a comment Visited 27 times, 1 so far today
Microsoft settles with Burst.com for USD 60 Million
Microsoft’s Legal Department is as usual busy with the various lawsuits Microsoft has to face on a daily basis. The latest case in news is related to the company Burst.com. Microsoft has agreed to pay Burst.com Inc. a sum of USD 60 Million to settle a patent infringement and antitrust lawsuit. Burst.com is a company working in the field of streaming audio and video applications over the Internet.
The lawsuit was filed way back in 2002 in which Burst.com said that Microsoft had infringed on its patent for sending audio and video content over the Web. The case also talked about the trade secret and antitrust claims against the biggest software corporation in the world Microsoft.
Microsoft has now agreed to license Burst’s patent portfolio as a result of this court settlement and plans to continue their own focus on the continued development and deployment of Windows Media technologies. This was confirmed by a senior Microsoft representative Tom Burt in a press statement.
Burst.com on their part are happy that Microsoft somewhat admitted that they were at fault considering they agreed to settle down the court case. Burst’s chief executive, Richard Lang claimed that the settlement validated his company’s technology. As a result of this news, Burst shares rose 75 percent to $3.15 on Friday on NASDAQ. Nice topping on the already delicious cake!
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March 14th, 2005 at 7:45 pm
I havent been following Burst. Only to the degree that a stock I hold EAG Eagle Broadband had over a million dollars in Burst stock in 2003 im trying to find out if they sold it. Does anyone know? Also there is that other litigation with Intel by Patriot Scientific symbol PTSC. If a company doesn’t win through technology it wins by default.