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This article is the third in a series on a rapidly-evolving area of patent law: determining the “reasonable and non-discriminatory” (RAND) royalty rate for licensing a standard-essential U.S. patent. Part 1 identified the key issues and underlying policy in setting the RAND royalty rate,. Part 2 examined the methodologies adopted by the Microsoft and Innovatio courts to determine RAND royalties. This article evaluates the lessons learned from the Microsoft and Innovatio decisions and provides practical advice should you or your company find yourself in patent litigation with RAND damages issues.