https://www.law.com/texaslawyer/2024/01/11/51m-judgment-at-stake-against-the-university-of-texas/
Warren Harris, left, for the University of Texas System regents, and Lisa Bowlin Hobbs, right, for IDEXX Laboratories Inc., argue before the Texas Supreme Court. Credit: SCOTx video archivesThe disagreement stems from a section of the licensing agreement stating in paragraph two the royalty rate will not exceed a half-percent for products that “detect Lyme disease in combination with one other veterinary diagnostic test,” but paragraph three states a royalty rate of 2.5% for products that “detect Lyme disease in combination with one or more veterinary diagnostic products.”
January 11, 2024 at 03:18 PM
4 minute read
What You Need to Know
- The Texas Supreme Court has been asked to determine the meaning of a patent licensing agreement that resulted in a $51 million judgment.
- A trial court awarded the University of Texas System regents the judgment in a royalty rate dispute.
- However, a court of appeals reversed the judgment in favor of IDEXX Laboratories, stating the agreement was ambiguous.
The University of Texas System is hoping the Texas Supreme Court can reverse an appellate court ruling that threw out a $51 million judgment in a royalty rate dispute with IDEXX Laboratories Inc.
The parties came before the court this week for oral arguments concerning a licensing agreement signed in 1999 related to Lyme disease detection patents controlled by the Board of Regents of the UT System.
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