Utah § 78B-6-1905 Bond.

Utah Statutes

§ 78B-6-1905 — Bond.

Utah·Title 78B Judicial Code·Ch. 78B-6 Particular Proceedings·Part 78B-6-19 Distribution of Bad Faith Patent Infringement Letters Act

(1)Upon motion by a target and a finding by the court that a target has established a reasonable likelihood that a sponsor has made a bad faith assertion of patent infringement in a demand letter in violation of this part, the court shall require the sponsor to post a bond in an amount equal to a good faith estimate of the target's costs to litigate the claim under this part and amounts reasonably likely to be recovered under Subsections 78B-6-1904(1)(b)(ii) and (iii), conditioned upon payment of any amounts finally determined to be due to the target.

(2)A hearing on the appropriateness and amount of a bond under this section shall be held if either party requests it.

(3)A bond ordered pursuant to this section may not exceed $250,000. The court may waive the bond requirement if it find

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(1) Upon motion by a target and a finding by the court that a target has established a reasonable likelihood that a sponsor has made a bad faith assertion of patent infringement in a demand letter in violation of this part, the court shall require the sponsor to post a bond in an amount equal to a good faith estimate of the target's costs to litigate the claim under this part and amounts reasonably likely to be recovered under Subsections 78B-6-1904(1)(b)(ii) and (iii), conditioned upon payment of any amounts finally determined to be due to the target.
(2) A hearing on the appropriateness and amount of a bond under this section shall be held if either party requests it.
(3) A bond ordered pursuant to this section may not exceed $250,000. The court may waive the bond requirement if it finds the sponsor has available assets equal to the amount of the proposed bond or for other good cause shown.

Utah § 78B-6-1905 (Bond.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.