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What: Shares of digital video recorder company TiVo (Nasdaq: TIVO) dropped more than 14% today.

So what: The company was back in court today trying to defend its patent on the DVR technology known as "multimedia time warping system," which allows the recording of one show while watching a second. TiVo has been engaged in patent infringement lawsuits against EchoStar (Nasdaq: SATS) and Dish Network (Nasdaq: DISH) for years.

Now what: The company is scheduled to report Q3 earnings later this month, but news related to these legal proceedings may have a bigger impact on stock performance, as the ultimate outcome of the lawsuit affects TiVo's ability to monetize its DVR patents. 

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Fool contributor April Taylor does not own shares of the companies mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.