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Business, Financial & Legal Posts - Page 251

Google contributed to the US economy in 2011 with big numbers, $80 billion of them

Google's Vice President of Americas Sales, Margo Georgiadis, took to the company's blog to say that the Internet is where business is done and jobs are created. How do you back up such as claim? Well, if you're Google, you can provide $80 billion of economic activity directly to advertisers, website publishers and nonprofit organizations across the US in 2011.

 

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The post highlight that 97-percent of Americans use Internet search to find local goods and services, on both smart devices and computers. Some believe that technology is driving people to shop online versus locally, this isn't always the case.

 

Boston Consulting Group shows that US citizens who have researched products online throughout 2011 actually went in-store to purchase these goods, and spent around $2,000, rather than online. Google says that's nearly $500 billion in revenue that was spent on local retail. Georgiadis cites a bunch of examples of just how Google and the Internet are helping businesses expand. Citing New England baking company King Arthur Flour, who recently jumped online and has since become an internationally-renowned business.

Continue reading 'Google contributed to the US economy in 2011 with big numbers, $80 billion of them ' (full post)

Nokia says that Google's $199 Nexus 7 tablet infringes on their patents

Google's freshly-announced Nexus 7 tablet was only announced last week, but Nokia have already claimed that the 7-inch tablet infringes on some of their patents in regards to Wi-Fi technology. The Inquirer believes that these patents have to do with the IEEE 802.11 Wi-Fi standard.

 

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A Nokia spokesperson has said to The Inquirer that they have more than 40 licensees under their standards essential patent portfolio which includes most of the mobile phone device makers. But, Google, nor ASUS are licensed under this patent portfolio. The Nokia spokesperson said that the two companies who have not licensed up should simply approach them and sign up for licensing rights.

 

We will most likely see Nokia going after Google and ASUS for licensing, instead of trying to push legal injunctions against them. You know, like other companies do when they're the biggest competitor to their precious iProducts.

Samsung Display is gaining momentum, features 39,000 staff and 7 facilities across the globe

Samsung's spun-out LED business Samsung Displays has completed its merger between the three-month old entity, and its Samsung Mobile Display and S-LCD corporations. The deal has created the world's largest display manufacturer, which happened back in April, but the latest news moves push the business to have 39,000 employees with seven production facilities across the world.

 

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Oh-hyun Kwon, vice chairman and CEO of Samsung Electronics, spoke at an investor meeting about the revised company, where he talked of the combined efforts will help the company develop its business:

 

Samsung Display is destined to attain virtually unlimited growth, through continuous efforts to combine our proven know-how in the display field with an overwhelming creative spirit. Our combined strengths will guide Samsung's display business through the next decade and longer, in turning the many synergistic benefits of the company into far-reaching, tangible results.

Continue reading 'Samsung Display is gaining momentum, features 39,000 staff and 7 facilities across the globe' (full post)

Apple settles with Proview over 'iPad' trademark dispute, hands over $60 million

Late last year, a Chinese court rejected Apple's iPad trademark infringement case toward Proview, after which Apple appealed in February, and now they've settled with the company who owned the iPad trademark in China, Proview.

 

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Apple settled with Proview for the tidy sum of $60 million, reports the Associated Press. Apple ending up coughing the dough up to Proview for the rights to the "iPad" trademark in China.

 

The original talks earlier this year had Apple offering Proview $16 million to settle the case, but Proview were holding out for a $400 million settlement, as the company were looking to plug the holes in their business' looming bankruptcy problems. Proview can't complain, a settlement of $60 million is not bad at all.

Samsung, Google team up to take on Apple in the court room

We know that the legal problems between Samsung and Apple are getting more and more serious, with bans imposed on Samsung selling their GALAXY Tab 10.1 in the US, and on Friday the GALAXY Nexus was also denied from sale. The judge in both of these cases is US District Judge Lucy Koh in San Jose, California.

 

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The Korea Times has reported, which Samsung later confirmed, for the first time that they are now getting help from Google in order to better defend themselves over patents. Samsung spokeswoman Lim Yoon-jeong has said that the two companies have been working closely to created a united front. Another undisclosed Samsung insider has been quoted in the article, where they say:

 

It's too early to comment on our game plan (with Google) in the legal battle; but we will do our best to get more royalties from Apple, which has benefited from our technology. The fight is becoming more dramatic and the possibility of a truce in the form of a cross-licensing deal seems to be becoming likely.

Continue reading 'Samsung, Google team up to take on Apple in the court room' (full post)

Kim Dotcom mansion raid was illegal, rules NZ judge

The US wants to extradite Megaupload founder Kim Dotcom, but that may be just a little bit harder now thanks to a NZ judge's ruling. Justice Helen Winkelmann said that the warrants used when more than 90 New Zealand officers stormed Dotcom's home and other properties in January were broadly cast, "lacking adequate specificity as to the offence".

 

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She ruled: "the search and seizure was therefore illegal", quite strong words there. She adds it was "clear that the police, in executing the warrants, have exceeded what they could lawfully be authorised to do". Justice Winkelmann has a very strongly worded 56-page judgment, which you can read here.

 

Kim Dotcom has released a statement, where he says "we are very happy with today's decision. We are digesting and analysing Justice Winkelmann's judgment and considering our next steps". The police, of course, declined to comment. It should get interesting from here on out, I think.

Apple post $2.6 million bond for GALAXY Tab 10.1 injunction

Sales of Samsung's GALAXY Tab 10.1 have been halted in the United States thanks to US Judge, Lucy Koh, granted Apple's request for a preliminary injunction yesterday. Apple have posted a needed $2.6 million bond straight after the preliminary injunction was granted. The money ensures that Samsung can be financially compensated to a degree if the injunction is successfully appealed.

 

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Samsung have replied by filing a motion to stay the injunction, pending an upcoming appeal; alternatively, Samsung may accept a stay pending the Court of Appeals for the Federal Circuit's decision on the motion to stay.

 

Samsung argues that the original court "erred by issuing a preliminary injunction based on a stale and incomplete record", and that the injunction is "improper based on the current evidence", especially since Judge Lucy Koh didn't allow Samsung to present evidence.

RIM announces Q1 earnings, is hit with a $518 million loss, 5,000 job cuts and BB10 gets delayed until 2013

Every single time I write something about Research in Motion lately, it is negative. Today is no different, but it's actually a little worse than usual. RIM have released their report on the first quarter of its 2013 fiscal year, and the numbers aren't pretty.

 

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RIM reports $2.8 billion in revenue, down 33-percent from the previous quarter, but the net loss is the biggest number here: $518 million. This number is much worse than what analysts were expecting. RIM have also announced they are cutting an additional 5,000 jobs as part of its ongoing restructuring efforts, and that BlackBerry 10 smartphones won't launch until Q1 of 2013.

 

The reason behind the delay of BB10 handsets? RIM have attributed the delay to the integration of some key BlackBerry 10 features and the "associated large volume of code" has "proven to be more time consuming than anticipated". Personally, I don't think they're going to have it any better until BB10, and if I have to be critical, even post-BB10 is not looking good for Research in Motion.

Continue reading 'RIM announces Q1 earnings, is hit with a $518 million loss, 5,000 job cuts and BB10 gets delayed until 2013' (full post)

Microsoft loses their EC antitrust appeal, faces $1.07 billion fine

Microsoft have lost an appeal against the European Commission over their business practices. Europe's second-highest court, the General Court, denied the appeal of the 2008 fine, where Microsoft looked at a fine of 899 million Euros ($1.35 billion at the time, $1.12 billion now) for violating existing antitrust sanctions.

 

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They're received a discount off of the fine, which has been cut down to 860 million Euros, or $1.07 billion due to Microsoft being permitted by the Commission to apply "restrictions concerning the distribution of 'open source' products" up to September 17, 2007.

 

Back in May of 2011, Microsoft appealed against the decision, something the company promised to do in 2008, and have expressed disappointment at the verdict. A statement from the company reads: "Although the General Court slightly reduced the fine, we are disappointed with the court's ruling." Microsoft haven't mentioned if they'll appeal this verdict just yet, but if they do, the case will go to the highest court in Europe, the EU Court of Justice.

Non-practicing entities, or "patent trolls" cost the US $29 billion in 2011

According to a new study from Boston University reports that non-practicing entities, or "patent trolls", cost the United States $29 billion in 2011 alone. Pushing monetary damages to the side for a minute, the study finds that the increasing number of lawsuits is sidetracking innovation for small- and medium-sized companies.

 

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We could name a few patent trolls right now, but for the uninformed a patent troll would be an individual, or a company, that acquires patents and licenses out their use or simply sits on them without any intent to manufacturer an intent with that patent in-hand. The study finds that small- and medium-sized businesses are the most affect by patent trolling.

 

Small- and medium-sized businesses are required to redirect funds from innovative research and development to purchase sometimes vague and overly broad patents in an attempt to 'cover all bases'. Some have said that Nathan Myhrvoid, founder and CEO of Intellectual Ventures, is a perfect example of a patent troll. Intellectual Ventures' sole mission is to buy and license patents, but Myhrvoid has argued that the big boys, Apple, Google and Samsung are now doing the exact same thing he is.

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