The Federal Circuit has ruled that a defendant's successor companies are liable for an $8 million default judgment in a patent infringement case. The panel rejected the district court's decision to apply South Korean law concerning successor liability, ruling that New Jersey law should apply because Daewoo Electronics' U.S. subsidiary has headquarters in New Jersey. The court cited a recent U.S. Supreme Court case that deemed that the laws of a company's "principal place of business" should apply to transactions.
September 03, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The U.S. Court of Appeals for the Federal Circuit has ruled that a defendant’s successor companies are liable for an $8 million default judgment.
Wednesday’s panel ruling in Funai Electric Co. Ltd. v. Daewoo Electronics Corp. reversed a February 2009 ruling of the Northern District of California that two Daewoo entities were not liable for an $8,066,112 default judgment in a patent infringement case against its two predecessor companies.
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