Newegg Ordered to Pay $2.3 Million to TQP Development

Submitted by patentadmin on Wed, 11/27/2013 - 11:58

November 27, 2013 - Online retailer Newegg was the loser in a patent lawsuit against non-practicing entity TQP Development. A Texas jury rejected Newegg's claim that TQP's patent on Web encryption was invalid and ordered Newegg to pay TQP $2.3 million, which was less than half the amount of damages TQP had requested.

TQP has also used the patent successfully against Microsoft, Amazon and other companies, and has collected over $40 million in settlements.