Oculus Denies It Stole Virtual Reality Technology

ZeniMax claims Oculus stole intellectual property from the company

   

Oculus Denies It Stole Virtual Reality Technology

Oculus is denying ZeniMax’s allegations of stealing intellectual property from the company.

Oculus 300x85 Oculus Denies It Stole Virtual Reality TechnologyThe virtual reality company is responding to ZeniMax’s claims that the company used ZeniMax’s technology to create its Rift VR headset. These claims were made after Facebook (FB) acquired Oculus for $2 billion in March.

ZeniMax’s allegations came to light after former employee John Carmack moved to Oculus and improperly shared intellectual property with the company.  “Oculus uses zero lines of code that I wrote while under contract to Zenimax,” he said.

Cormack added that he left ZeniMax after the company prevented him from working on virtual reality projects. He is Oculus’ chief technology officer now.

FB stock is up about 1.2% Monday.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/05/oculus-virtual-reality/.

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