intellectual-property-rights

Facebook Oculus looses $500mn in lawsuit settlement

Oculus, a virtual reality subsidiary of Facebook has lost half a billion dollars in damages from a video game developing company called ZeniMax Media Inc. A Dallas, Texas court jury has levied $500 million settlement on Facebook and two founders of Oculus VR Rift following ZeniMax’s claim that the defendants had unlawfully used the company’s code to build the VR, violating its intellectual property rights.