Shenzhen-Based Netac Prevailed In Patent Lawsuit On U.S. Soil

In a final decision signed by court arbitrator Hon. William G. Bassler, the United States Federal District Court in New Jersey ruled recently that PNY Technologies, Inc should pay 7.71 million U.S. Dollars in patent licensing fees and interests to the Shenzhen-based Netac Technology Company.

Netac Technology was founded in 1999, mainly engaging in the distribution of USB flash disks. In the same year of its founding, Netac developed the first USB flash disk in the world. In November 1999, the company filed a patent application named electronic external storage method and its device for data processing system, and it was granted in July 2002. In December 2004, the patents of the same group were granted in the U.S.