What's Reasonable to Qualcomm Isn't to Apple

During Apple Inc.’s earnings conference call last week, an analyst asked Chief Executive Officer Tim Cook about the company’s patent dispute with Qualcomm Inc. Here’s how Bloomberg live-blogged his answer:

I know it sounds arcane, the kind of fight that is of intense interest to the parties and their lawyers, and of no interest to anyone else. But as an aficionado of patent disputes, I decided to dig into it a little. It turns out to be a pretty big deal. If Apple wins, it could change one of the most prevalent practices in Silicon Valley -- while wreaking havoc on the business model of not only Qualcomm, but also Nokia Oyj, Ericsson AB and other companies that rely on patents for their profits. If Apple loses, patent licensing practices will continue to throw sand in the wheels of commerce -- and cost consumers money.