West Loop-based Kove IO, Inc., had accused Amazon Web Services of infringing on three patents held by CEO John Overton and fellow inventor Stephen Bailey.
CHICAGO -- A federal jury in Chicago has awarded $525 million in damages to a Chicago -based tech firm, after finding Amazon Web Services infringed on three of the company's patents.West Loop-based Kove IO, Inc., had accused Amazon Web Services of infringing on three patents held by CEO John Overton and fellow inventor Stephen Bailey, who met at the University of Chicago while working on their PhDs.
'Amazon Web Services offers cloud computing services that are used by several other major companies, including Netflix, Facebook, Disney, and Sony.On Tuesday, a federal jury found Amazon infringed on Kove's patents, although it not do so willfully, meaning it did not know of the patents' existence. The jury awarded Kove $525 million in damages.'This verdict highlights the importance of protecting intellectual property rights.
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