China Fines Schneider $45m – Jamil Anderlini
From Financial Times:
A Chinese court has ordered France’s Schneider Electric to pay a Chinese company $45m in damages for infringing its patent, the largest amount ever awarded in an intellectual property case in the country.
Intellectual property violations are one of the main sources of friction between China and the rest of the world, and in the vast majority of IPR cases involving foreign players, the Chinese company is the defendant. The Intermediate People’s Court in Wenzhou city , eastern Zhejiang province, told Schneider to stop making five types of miniature circuit-breakers, which it ruled were based on patents held by low-voltage equi¬≠p¬≠ment maker Chint Group‚Äâof Wenzhou. The court also awarded Chint Rmb334,869,872 ($44.6m) in damages. [Full Text]