Vringo Awarded $30 Million in Patent Suit

Small technology company Vringo Inc. was awarded about $30 million in damages and granted future royalties by a federal jury in its patent suit against a handful of technology giants, including Google Inc. and AOL Inc., according to a person familiar with the case.

Vringo was awarded a 3.5 percent running royalty rate off a portion of the defendants’ search-advertising revenue until the patents expire in 2016. The person close to the case said the royalties should be far more significant than the past damages and could be worth several million dollars a year.

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