Apple Must Pay $368 Million in Patent Suit Loss

Firm will have to pay $330,000 per day until the case is settled.

Apple has been ordered to pay over $368 million in a patent suit loss against intellectual property and patent holding firm, VirnetX.

A U.S. District Court upheld an earlier decision by a federal jury last year that awarded VirnetX over $368.2 million. Apple was found to have infringed upon patents pertaining to the networking technology utilized in its FaceTime video chat service.

The iPhone maker must pay VirnetX more than $330,000 per day until the case is settled, which will force Apple to seek a royalty settlement with VirnetX. Such a deal will require both companies to agree on exactly how much Apple should pay for any further use of the former's patents. Should they fail to reach an agreement, a new ruling could be made that would result in additional damages.

According to the original ruling, Apple's iPhone 5, iPad Mini, iPad 4, fifth-generation iPod Touch, and the latest Mac computers all infringe upon the patents. VirnetX, which is known for suing major technology firms related to patent infringement claims, said Apple infringed upon four of its networking patents that establish a secure connection between two devices.

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