According to Reuters, Schlumberger won a ruling this week stating they can recover profits for “unauthorized use of its patented technology” in foreign countries.

Schlumberger is the world’s largest oilfield services provider and the case in question was over patents in their UK subsidiary WesternGeco. The final decision was won with a majority 7-2 vote that overturned an earlier decision by a lower court. The lower court decision confirmed limitations on applying US patent law overseas. This same decision lowered the cost that ION Geophysical Corporation had to pay Schlumberger bu $93.4 million.

The decision stated that extending US patent holders’ monopoly rights opened up the potential for reciprocal actions by foreign patent owners against US businesses.

Subscribe To Our Newsletter

Would you like to receive our popular weekly news alerts straight to your inbox? Solely patent focused and only sent once a week means you can guarantee there will be something you are interested in reading instead of clogging up your inbox with junk. Sign up now!

You have Successfully Subscribed!