Home -> Law Blog Directory -> Patent Law Blogs -> Philip Brooks’ Patent Infringement Updates

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Patent Law

: Philip Brooks’ Patent Infringement Updates

Lincoln National Life Insurance Wins Variable Annuity Patent Infringement Case

By Philip Brooks

ADVERTISEMENTS

The following article appeared on February 19, 2009 at WGAN's Channel 2 News website:

A Cedar Rapids-based insurance company has been ordered to pay about $13 million in a patent infringement case.

A federal jury in Cedar Rapids returned the judgment recently against Transamerica Life Insurance Co., a subsidiary of Aegon.

Transamerica had asked that a patent held by Pennsylvania-based Lincoln National Life Insurance Co. be declared invalid.

The patent involves a computerized method for administering a variable annuity benefit plan. It was issued in August 2006.

The jury found the patent valid and ordered Transamerica and another Aegon company, Ohio-based Western Reserve Life Assurance Co., to pay 0.11 percent of $11.9 billion. The amount was based on assets in the companies' variable annuity products during the infringement period.

I found the damage methodology of interest, as I was an expert in a case a couple of years ago involving copyright infringement damages related to variable annuity software.

Full post as published by Philip Brooks’ Patent Infringement Updates on February 20, 2009 (boomark / email).