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Business, Financial & Legal Posts - Page 7

Samsung further appeals US Supreme Court fight with Apple

By: Chris Smith | More News: Business, Financial & Legal | Posted: Dec 15, 2015 3:33 pm

While Samsung had been ordered to pay Apple a large sum in damages due to multiple patent claims, this company has once again entered an appeal process, asking the US Supreme Court to address its rules based around design patents, said to be created 120 years prior.




The case was originally placed due to an alleged breach by Samsung of three design patents, involving the face and rounded bezel of an iPhone and the iPhone home screen's 16 icon design. Found guilty, Samsung was ordered to pay all profit earned by phones relating to this lawsuit, with this company stating in a release that they are "escalating this case because it believes that the way the laws were interpreted is not in line with modern times."


Believing these old laws to be out of touch, Samsung's appeal was expected to take place, as explained by the tech giant previously in 2015.

Aussie bitcoin inventor traded $61.1m coins for gold and software

By: Chris Smith | More News: Business, Financial & Legal | Posted: Dec 14, 2015 8:29 am

While TweakTown reported that the inventor of Bitcoin was deduced to being an Australian male last week, further news has come to light that this secretive man had more up his sleeve than just crypto-currency.




In a sale to alleged fraudster Mark Ferrier , Craig Wright is said to have sold his Bitcoin stash in return for gold and software, worth around $61.1 million. However, this sale didn't go as expected for Wright, with it turning sour and resulting in a $60.5m lawsuit hitting the Sydney Federal Court.


Wright's turmoil wasn't limited only to the destroyed deal with Ferrier, reports claim that this man was also on the verge of bankruptcy between 2006-2013 due to "a legal dispute with another business partner that saw Mr Wright have a restraining order issued against him and convicted of contempt of court," as seen on The Australian. While bitcoin is worth an approximate global value of $5 billion, Wright has not yet been officially proven as this currency inventor, but all leads point to him.

Continue reading 'Aussie bitcoin inventor traded $61.1m coins for gold and software' (full post)

Live in the UK? You might need permission to take photos of your stuff

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 13, 2015 5:22 am

If you live in the UK, you might want to be careful of what photos you take... inside of your own house. Thanks to the Enterprise and Regulatory Reform Act 2013 ready to roll through, it will include an extended form of copyright for designer objects - you know, like furniture - for 70 years after the designer has died. This means you'll need a license to post photographs of your own belongings.




We shouldn't see the average UK citizen being affected, because a large portion of Britons would be thrown in court straight away. As BoingBoing reports, it's "law that everyone is guilty of is a law that is ripe for abuse, because it allows rightsholders' estates -- often capricious corporate entities -- the right to ruin the lives of anyone they dislike, for any reason".


Who is the law being targeted at? It looks like it'll hit commercial photographers, of which the UK government seems to have "no sympathy for", reports BoingBoing, adding: "The Government considers that photographers and image libraries already bear costs for time and administration when assessing whether they need to obtain clearance when photographing". But more people will be hit by the law, with publishers of books with pictures of design objects, will feel the pain. The Digital Reader had a chat with Natalie Kontarsky, an Associate Director for Legal and Business Affairs at Thames & Hudson, a popular art publisher, where she said: "The government has actually said 'you are collateral damage' in a very sanguine, offhand way. The dark end of the spectrum would be to take books out of circulation and have to pulp. Obviously no one wants to look at that".

Gearbox Software opens AAA studio in Quebec City, Canada

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Dec 12, 2015 2:20 am

Borderlands series developer Gearbox Software has opened a new studio in Canada's Quebec City, an increasingly tantalizing and popular destination for publishers and developers (high tax breaks and a strong talent pool tend to have that effect).




Gearbox has been headquartered in Texas for more than 16 years, and now, following the construction a new home base in Frisco, has decided it wants to expand out of the country. In doing so, it's appointing former business development director at Quebec Media Sebastien Caisse, Ph.D. as Co-Studio Head and Director of Operations at the new location. Meanwhile, former Art Director at Activision Pierre-Andre Dery will serve as Co-Studio Head and Studio Creative Director.

Continue reading 'Gearbox Software opens AAA studio in Quebec City, Canada' (full post)

Magic Leap has reportedly raised another $827 million in new financing

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 10, 2015 10:27 am

Magic Leap has reportedly secured another $827 million in Series C funding, according to sources of Forbes. If the report is true, it means Magic Leap has raised over $1.4 billion in total. What is Magic Leap? Its a new form of augmented reality that blends real life with holograms. Take a look below.



The augmented reality start-up kicked off its funding rounds in February 2014, where it raised over $50 million to work on its "Cinematic Reality" platform. Later in the year, it raised $542 million in Series B financing. The company hasn't announced its Series C funding, but Forbes said it had filings that it secured through private market data tracker VC Experts.


As for the dynamics of Magic Leap, MIT Review's Rachel Metz discusses how the new tech will work. "Essentially, [Magic Leap] has developed an itty-bitty projector that shines light into your eyes-light that blends in extremely well with the light you're receiving from the real-world," Metz said after trying a live demo test of Magic Leap tech.

Continue reading 'Magic Leap has reportedly raised another $827 million in new financing' (full post)

Bethesda's new Montreal studio to expand development on all platforms

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 10, 2015 9:32 am

Bethesda has announced that its opened the doors to a new studio in Quebec, with its new Montreal development studio led by studio director Yves Lachance.




The company expanded its studio reach into Montreal "to expand its development capabilities in console, PC, and mobile gaming". Bethesda's Game Director and Executive Producer Todd Howard explains: "We've worked with some very talented developers in Montreal for a long time, and decided it was time to open a studio there. It's exciting to think about the new games we'll be building together".


For the last 10 years, Lachance has worked with Behaviour Interactive, a Montreal-based studio that specializes as a work-for-hire studio, assisting larger publishers. During his time with the studio, Lachance oversaw work on projects like Bethesda's Wolfenstein: The New Order and Fallout Shelter. Lachance said: "Our collaboration with Bethesda Game Studios has been an exhilarating and memorable journey already. We are thrilled to be launching the studio in Montreal and contributing our city's great game-making talent to the kind of games that Bethesda Game Studios is known for".

eSports giant Azubu raises $60 million in new funding

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 10, 2015 7:32 am

eSports giant Azubu has just secured another $60 million in a new round of funding, with their viewership increasing by 1200% in the last 12 months alone.




The new funding was led by London-based Sapinda Group, with a contribution also coming in from Sallfort Privatbank of Switzerland. Azubu will use the money to expand into new global territories, as well as grow its next-gen platform, Azubu 3.0. Azubu CEO Ian Sharpe said: "We believe that the global eSports community deserves a broadcast and viewing platform that's designed specifically for their businesses. We are developing our technology in direct collaboration with the community and brand partners in order to provide the best possible, and crucially, most monetizable streaming experience".


Jason Katz, COO of Azubu said: "We are expanding operations in a number of new regions around the world and creating bigger and more content partnerships and corporate relationships, which we're looking forward to announcing in the near future. This latest round of financing will support our global growth and expansion into 2016 and beyond".


Azubu has credited its exclusive partnerships for its huge 1200% growth in viewership over the last 12 months, with partners like KeSPA and the 2015 World Champion SKT T1 team with its star Lee "Faker" Sang-hyeok in Korea, paiN Gaming and AD Felipe "brTT" Gonçalves in Brazil, and Berlin-based European team Origen, and its founder Enrique "xPeke" Cedeño-Martinez

Toshiba looking at $60m accounting scandal fine

By: Chris Smith | More News: Business, Financial & Legal | Posted: Dec 9, 2015 6:36 pm

Due to an accounting violation, the Japanese securities watchdog has requested that Toshiba be sent a massive $60 million (7.37 billion yen) fine, being described by iTnews as; in a bid "to rebuild a corporate image shattered by a series of high-profile wrongdoing".




Surrounding this news, 50 shareholders have also taken pitchforks to this giant company, requesting around $2.4 million in damages due to stock losses. With Toshiba's stock falling approximately 40 percent since the breaking announcement of this saga in April 2015, this accounting shambles is sending the company towards ruin in its current state.


The watchdog seems to be setting out to show Toshiba as an example towards other companies, strengthening its investigations due to Toshiba being such a large Japanese brand name and global company, aiming to make an example out of these illegal blunders.

Bitcoin inventor is an Australian man, sources claim

By: Chris Smith | More News: Business, Financial & Legal | Posted: Dec 9, 2015 12:29 pm

Bitcoin is an online currency that saw an enormous rise in recent times, with the growth of this currency seeing some people buy houses for previous investments of $25 and the invention of 'Dogecoin' alongside it. While no one is sure exactly where the 'inventor' of this currency is from, Wired believes that an Australian was at the heart of this online phenomena.




Stated to be a 44-year old Aussie by the name of Craig Steven Wright, this man is said to go by the online alias of Satoshi Nakamoto. Not only is Wright theorized to be the creator of this crypto-currency, but he also owned 1.1 million bitcoin which is worth just over $396 million today.


In the referenced article, our news source stated; "In the last weeks, WIRED has obtained the strongest evidence yet of Satoshi Nakamoto's true identity. The signs point to Craig Steven Wright, a man who never even made it onto any Nakamoto hunters' public list of candidates, yet fits the cryptocurrency creator's profile in nearly every detail. And despite a massive trove of evidence, we still can't say with absolute certainty that the mystery is solved. But two possibilities outweigh all others: Either Wright invented bitcoin, or he's a brilliant hoaxer who very badly wants us to believe he did."

Uber announces two new ridesharing services for Chicago and Seattle

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 9, 2015 10:32 am

Ridesharing giant Uber has just announced two new ridesharing services that will kick off in the metro areas of US cities Chicago and Seattle.




The first is 'UberHOP' which is similar to conventional bus transportation, which will debut on Thursday, December 10. UberHOP will match groups of passengers with an Uber driver who is heading in the same direction, but unlike Uber's traditional door-to-door services, it requires riders and the driver to meet at a predetermined location and time - just like a bus stop - and they require all passengers to be dropped off at a single location, and walk the rest of the way.


The second pilot program (which is available in Chicago only) is 'UberCOMMUTE'. UberCOMMUTE lets drivers who are commuting into the city center to share their trip with another passenger, and secure a portion of the driving expense. UberCOMMUTE is an extension of the UberPOOL program, two or more commuters can share their ride, and defer the cost between themselves. This service will be available Monday through Friday, from 6AM to 10PM.

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