Voip-Pal.com Inc. Applauds the United States Supreme Court on its Unanimous Ruling Regarding Enhanced Monetary Awards in Patent Infringement Lawsuits
Voip-Pal.com Inc. ("Voip–Pal", the "Company") (OTC Pink: VPLM) and its Board of Directors applaud the recent ruling by the U.S. Supreme Court regarding patent infringement lawsuits. The recent decision is a major victory for patent holders and provides greater protection for the intellectual property rights of inventors and innovators. The decision opens the door for larger punitive damage awards in cases of willful infringement.
On June 13, 2016 the U.S. Supreme Court unanimously overturned the "rigid" two-part test previously utilized to determine the amount of punitive damages courts could award the patent owner in cases of willful infringement not to exceed three times the amount found or assessed. The Court also lowered the patent owner's burden of proof standard from "clear and convincing evidence" to a "preponderance of the evidence". In the Court's opinion Chief Justice John Roberts described the previous standard as "unduly rigid" and "excludes from discretionary punishment many of the most culpable offenders, such as the ‘wanton and malicious pirate' who intentionally infringes another's patent…for no purpose other than to steal the patent holder's business."
Complete opinion: http://www.supremecourt.gov/opinions/15pdf/14-1513_db8e.pdf.
Voip-Pal General Counsel and Director Dr. Ryan Thomas stated, "The Halo Electronics, Inc. v. Pulse Electronics, Inc. decision provides welcome direction from the Supreme Court that the rationale for punitive damages in patent cases should follow the 'nearly two centuries of enhanced damages under patent law' that allowed 'punitive or ‘increased' damages' to be recovered 'in a case of willful or bad-faith infringement.'"
Emil Malak, CEO of Voip-Pal commented, "We welcome the Supreme Court's decision and see this as a major victory for all patent owners and innovators. This ruling will once again encourage innovation which has lagged in recent years due in part to cumbersome patent litigation which often makes it difficult for inventors to be properly compensated." Mr. Malak also said, "We look forward to the IPR review and to having our day in court with Apple, Verizon and AT&T."
The Company also announced the Form 10 Registration Statement filed with the Securities and Exchange Commission in April is now effective making Voip-Pal a fully SEC reporting company subject to the reporting requirements of the Securities and Exchange Act of 1934. The Company has also begun the application process to apply for up-listing to the OTCQB. That process is expected to take about 4 weeks.
About Voip-Pal.com Inc.
Voip-Pal.Com, Inc. ("Voip-Pal") is a publicly traded corporation (OTC Pink:VPLM) headquartered in Bellevue, Washington. The Company owns a portfolio of patents relating to Voice-over-Internet Protocol ("VoIP") technology that it is currently looking to monetize.
Corporate Website: www.voip-pal.com
Rich Inza, 954-495-4600