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This program, the buyback program they got sued over, was almost all "pure profit". Kinda like the extended warranty they try to sell you. It's 300% profit marg
by unreal37 14y ago
This program, the buyback program they got sued over, was almost all "pure profit". Kinda like the extended warranty they try to sell you. It's 300% profit margin business. The court documents talk about it Best Buy expecting it to be a cash machine and driving instant profits to the Best Buy bottom line, and that TechForward would have made about $20MM per year just from the licensing deal.
Best Buy still made "tons of cash" from this. The punitive damages of only $5MM are a shame. This was wilful theft of IP.