January 12, 2018 / 7:53 PM / 9 months ago

U.S. Supreme Court to hear Schlumberger fight over patent damages

Jan 12 (Reuters) - The U.S. Supreme Court on Friday agreed to review a bid by Schlumberger NV, the world’s largest oilfield services provider, to allow companies to recoup profits lost due to patent infringement when patented technology is used overseas.

The case involves a fight over how much rival ION Geophysical Corp must pay for infringing Schlumberger technology that helps search for oil and gas beneath the ocean floor. The justices will hear Schlumberger’s appeal of a lower court ruling that barred it from recovering more than $93 million stemming from foreign contracts the company said it lost as a result of the infringement.

Reporting by Andrew Chung; Editing by Will Dunham

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