Shannon Brandao
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"FT [excerpt]: The revelation that a Chinese company is funding several US patent lawsuits has put the $13bn litigation finance industry on the defence over claims that Beijing could exploit the American #legal system and #spy on #corporations.
Court filings in Delaware show that #Shenzhen-based Purplevine #IP is backing two related #intellectualproperty suits brought against a subsidiary of #Samsung Electronics. The suits allege that JBL #Bluetooth #earbuds infringe on several voice detection and noise reduction innovations, as does an in-car sound system.
Purplevine is reportedly backing three other cases in #Texas, brought by the same #Florida-based wearable tech company. #Litigation #finance companies pay legal costs upfront in exchange for a share of damages that may be awarded.
'The cost of allowing foreign actors, especially foreign adversaries, to take advantage of the American court system is high,' Florida’s Republican senators Marco Rubio and Rick Scott wrote to their state’s chief federal judges shortly after the initial Purplevine disclosure, urging them to force parties in their courts to divulge the backing of foreign #investors."
#news #business #law