Trade Secrets Lawsuit
Razorsight agreed to pay $4.5 million settlement in infringement lawsuit.
Trade SecretsWashington, DC: (May-21-08) Fairfax-based TEOCO brought a lawsuit against Razorsight Corp., alleging copyright infringement. TEOCO, which provides invoice processing and auditing software to the telecommunications industry, sued Razorsight in federal district court for the Eastern District of Virginia. The suit alleged that Razorsight obtained software from TEOCO and used it to create and provide competing products.
In a recent announcement, spokespersons for the TEOCO, an employee-owned company, announced that the parties had reached a settlement in the case, in which Razorsight has agreed to pay $4.5 million to TEOCO to settle the trade secret and copyright infringement lawsuit. Apart from the $4.5 million payout, Razorsight agreed to an injunction, stopping the company from using TEOCO's intellectual property, as well as a future audit. [WASHINGTON BUSINESS JOURNAL: RAZORSIGHT SETTLES LAWSUIT FOR $4.5M]
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