In today’s digital world, emerging technology is becoming as competitive and as lucrative as many other more traditional markets, such as real estate and commercial goods. In some cases, new technology is even surpassing other fields to become one of the fastest-growing and most successful industries today. Consumers need only look at the success of technology and Internet giants such as Apple and Google to understand the impact of digital technology on today’s society. Many Houston businesses that deal in technology have great potential for success. However, there is also the chance of being involved in complicated litigation surrounding digital technology and intellectual property, including breach of contract lawsuits and more.
Recently, Microsoft accused Samsung, one of the world’s leading manufacturers of smartphones, of not complying with the terms of both companies’ longstanding partnership. In the contract dispute, the software giant says Samsung is failing to make payments for patented Microsoft technology that the smartphone maker uses in its phones and tablets, allegedly breaking a 2011 agreement that allowed Samsung to use Microsoft’s intellectual property.
Business contracts are frequently forged between leading technological companies in order to create more appealing and useful products for consumers. However, such contracts can be easily broken if one company no longer agrees to its terms, or parties may even mistakenly misinterpret the terms. In complex technological contract disputes, competent legal representation is essential.
Source: Industry Week, “Microsoft Sues Samsung for Breach of Contract,” Sophie Estienne, Aug. 4, 2014