June 22, 2018 / 2:19 PM / 5 months ago

U.S. Supreme Court backs Schlumberger on overseas patent damages

WASHINGTON, June 22 (Reuters) - The U.S. Supreme Court ruled on Friday that companies can recover profits lost due to the unauthorized use of their patented technology abroad in a victory for Schlumberger NV, the world's largest oilfield services provider.

The decision overturned a lower court's ruling that had enforced limits on applying U.S. patent law overseas and reduced by $93.4 million the damages sum that rival ION Geophysical Corp had to pay for infringing Schlumberger technology that helps find oil and gas beneath the ocean floor. Both companies are based in Houston.

Reporting by Andrew Chung; Editing by Will Dunham

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