Kgan: Iowa company ordered to pay $13M in patent case
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Started by: zoobabzoobab
Date: 19 Feb 2009 17:00
Number of posts: 1
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Summary:
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 Indiana-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.
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