Tenancy Software Owner Wins $62 Million in Trade Secrets Case

ResManLLC will receive $62.4 million from two companies found to have misappropriated its property management software, after a federal court in Texas entered a final judgment in the case.

ResMan’s platform gives property managers a suite of tools for tenant intake, rent collection, accounting, unit and utility maintenance, budgeting, and leasing. ResMan made the platform available under a master subscription agreement imposing use restrictions and confidentiality obligations on customers.

In March a jury found Karya Property Management LLC and Expedien Inc. liable for improperly using ResMan’s platform to aid in the development of competing software. The jury awarded ResMan up ...