What was the main financial impact of patent infringement on Shane Chen?
Answer
He lost millions of dollars due to the unauthorized reproduction and sale of his design
The widespread infringement, where knockoffs bypassed research and development costs, resulted in Chen losing millions from his proprietary technology.
#Videos
Inside the Mind of Shane Chen: The Creator of the Hoverboard
Shane Chen, inventor of the hoverboard, on creating the first 2 ...
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Who is credited with creating the original self-balancing board that led to the modern hoverboard phenomenon?What was the original name Shane Chen gave to his patented self-balancing board design?What core technology did the Hovertrax rely on to keep the rider upright?What immediate challenge arose for Shane Chen after his design gained traction?What aspect of the counterfeit units caused a public safety crisis?What company was Shane Chen associated with when engineering the Hovertrax?Why was the device called a 'hoverboard' by the general public despite not hovering?What was the main financial impact of patent infringement on Shane Chen?How did the failures of counterfeit boards affect the public perception of the product category?What did Chen's foundational design represent in personal mobility technology compared to earlier concepts?