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Smartflash takes a $ 532.9 Mn worth bite of Apple

Apple, known for suing other high profile companies, gets a taste of its own medicine. Apple Inc. has been ordered to pay US$ 532.9 Mn after a federal jury in Texas found that its iTunes software infringed three patents owned by patent licensing firm, Smartflash LLC. To market and commoditize his patents, Patrick Racz, in the early 2000s established Smartflash. As a non-practicing entity, the firm operates solely through patent licensing and litigation. Smartflash, a Texas-based patent licensing company, sued Apple…

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