lost profits. 1.Contracts. A measure of damages that allows a seller to collect the profits that would have been made on the sale if the buyer had not breached. UCC § 2-708(2). [Cases: Damages  40; Sales  384(1). C.J.S. Damages §§ 58–61; Sales§§ 363, 365–366.] 2.Patents. A measure of damages set by estimating the net amount lost by a plaintiff-inventor because of the infringing defendant’s actions. • The plaintiff can ask for a lost-profits recovery by showing that the patent is in demand, that the plaintiff is able to meet demand, and that there are no acceptable alternatives on the market. [Cases: Patents  318. C.J.S. Patents §§ 561–562.]
[Blacks Law 8th]