Apple settles patent suit for $10 million

by admin November 22, 2007 at 3:05 pm

Apple Inc. on Wednesday called a truce in the feud between itself and by agreeing to pay a $10 million lump sum in exchange for protection from current and future lawsuits. will collect approximately $4.6 million after factoring in legal fees and other expenses associated with the April 2006 complaint, the company says in its announcement.

In return, the streaming media firm will grant Apple the right to use most of its patent portfolio, much of which covers the process of compressing and sending data across a network. Apple will also be shielded from any potential lawsuits that may arise from four additional Burst patents that have not been shared between the two companies, three of which are related to digital video recorders and have yet to be granted.

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