GREENBELT, Md. - July 20, 2021 - (Newswire.com)
IntangibleSpring Corp., a provider of an intellectual property royalty rate database for the transfer pricing and valuation industries, has prevailed after a jury verdict was rendered in its favor in a federal lawsuit filed against it by Maryland-based RoyaltyStat, LLC, its competitor.
RoyaltyStat, LLC sued IntangibleSpring in December of 2015, alleging claims of copyright infringement, trade secret misappropriation, and tortious interference with contract. By the time the case reached trial six years later, all claims had been dismissed except for RoyaltyStat's claims of copyright infringement and trade secret misappropriation. After a six-day trial, the jury returned a verdict, which denied all of RoyaltyStat's claims.
"I am grateful that IntangibleSpring has finally been vindicated after six years of litigation and that our clients can finally use our product with confidence and without the threat of litigation," said IntangibleSpring's managing director, Raul Pacheco Quintanilla. "It feels wonderful to have been able to finally rebut the statements that RoyaltyStat has made about our product in a court of law and to put this chapter of IntangibleSpring's business behind it."
IntangibleSpring is an information services firm that allows clients to search and identify comparable transactions to determine arm's-length royalty rates compliant with the OECD BEPS guidance.
IntangibleSpring's IP Benchmark tool provides a database of royalty rates associated with intangibles that are linked to supporting documentation, such as license agreements, patent registrations and press releases. IntangibleSpring's Contracts search engine uses natural-language processing to allow its users to more accurately search a universe of 1.5 million agreements filed with the United States Securities and Exchange Commission (SEC).
IntangibleSpring was represented at trial by John Di Giacomo and Eric Misterovich of Revision Legal, PLLC of Traverse City, Michigan. RoyaltyStat, LLC was represented at trial by Cecil Key, Billy Ruhling, and Jarred Wright of DiMuro Ginsberg, P.C. of Alexandria, Virginia.
CONTACT:
Raul Pacheco
IntangibleSpring, Corp.
raul@intangiblespring.com
https://www.intangiblespring.com
Press Release Service by Newswire.com
Original Source: IntangibleSpring Corp. Prevails Against RoyaltyStat, LLC in Federal Copyright Infringement Lawsuit
