The Apple's New $539m Revenue
Apple has a new line it can add in its revenue column - $539m which Samsung would pay for infringing its patents [Apple made $229B in 2017 as revenue]. Without a strong property rights system, no nation can thrive. When Beyonce sings, everyone pays. But when the women in my village sing, their works are FREE for all. America has made Beyonce a millionaire, the women in my village are not that fortunate. We need to have institutions in Nigeria for commerce to boom. The legal system we have where alleged kidnappers can get court injunctions to avoid prosecution shows we have works to do.
A US court has ordered South Korea's Samsung Electronics pay $539m (£403m) in damages for copying features of Apple's original iPhone.
The jury's decision is the latest step in a long-running legal battle between the world's top smartphone makers.
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It began in 2011 when Apple argued Samsung had infringed on some patents.
Apple was awarded $1.05bn in damages a year later but the rivals have fought over the final amount ever since.
In the latest court ruling, most of the damages payment - $533.3m - was awarded for infringing three Apple design patents. The remainder was for violating two patented functions.
In this country, we are still revelling on 'strong men' and hero worshiping, forgetting that without strong institutions, they all become a passing fad.
Apple was able to lay claim to such a big figure, because it's operating in an environment where almost every original idea or work is OWNED. But here, even in the academics, people still blatantly copy and plagiarize others' works, without proper referencing.
Kidnappers getting an injunction is part of the broken system, almost every institution in the land is ridiculed.
