France's Schneider Electric has agreed to pay a Chinese company $23m to settle a patent lawsuit – the largest recorded settlement in an intellectual property case in China.
Chinese IP lawyers said the settlement was a “wake-up call” to foreign companies about the growing risk of lawsuits from China groups asserting IP rights.
Traditionally, damage awards in Chinese IP lawsuits have been small, and the plaintiffs have usually been foreigners suing Chinese companies claiming infringement of IP rights.
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