Jury orders Facebook to pay $500 million in Oculus tech theft case
The Silicon Review
02 Febuary, 2017
A US jury has ordered Facebook and creators of its Oculus Rift to pay $500 million to gaming software firm ZeniMax in a lawsuit that claimed the virtual reality technology was stolen.
The Texas jury made the award in a trial in which Oculus was accused of basing its Rift headset on technology stolen from ZeniMax's virtual reality software, court documents showed.
The lawsuit claimed Oculus founder Palmer Luckey developed the virtual reality gear using source code illegally obtained from the gaming firm.
ZeniMax said it was "pleased" about the award for "unlawful infringement of our copyrights and trademarks, and for the violation of our non-disclosure agreement with Oculus pursuant to which we shared breakthrough VR technology that we had developed and that we exclusively own."
Robert Altman, ZeniMax's chairman and chief executive, said in the statement: "Technology is the foundation of our business and we consider the theft of our intellectual property to be a serious matter."
Facebook acquired Oculus in 2014 for more than $2 billion and last year began selling the Rift headsets as part of the social network's push into virtual reality.
YOU MAY ALSO LIKE
Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates
The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...
Business Travelers to Stay at Singapore’s Changi Airport Bubble
Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...
Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis
2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...
Department of Telecommunication to announce the new schedule for 5G trials
Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...
