Beats has won court against the headphone manufacturer Monster, who accused her of stealing technology
Beats won in the court of the headphone manufacturer Monster, who accused her of stealing technology. As stated in the opinion, the court received no credible evidence of multimillion-dollar damage of the plaintiff from the actions of a competitor.
At the end of 2008, Monster Cable has exclusive rights for a 5-year contract for the manufacture and development of the first product Beats. In early 2012 it became known that the company would not renew their production contract and their partnership. The result is Beats took production into their own hands. However, says the lawsuit, founders of Beats, Jimmy Iovine and Dr. Dre borrowed knowledge about the headphone Monster for the products of its own design. Monster said that the company is entitled to royalties of 5% of sales Beats.
To a claim in addition to representatives of Beats and HTC were involved, which in August 2010 acquired a 50.1% stake in Beats for $309 million. the Purchase was intended for a more successful competition with other phone manufacturers and the Association with a musical brand, as this acquisition was granted HTC exclusive rights to manufacture smartphones with Beats brand. In July 2012 the Taiwanese company sold back half its stake in Beats for $150 million.
The court ruled in favor of Jimmy Iovine and Dr. Dre, as the musicians have not violated any signed agreements.
Recall that in may 2014, Apple bought Beats Electronics and streaming music service Music Beats working by subscription. The total transaction value amounted to $3 billion, of which $2.6 billion Apple paid in cash and the remaining $400 million is in the form of shares if the rights to them in subsequent years.