Dont Feed The Patent Trolls

So I’m sure most of you have heard of a patent. It is conceived to be a vital part of an invention and the invention process. While it can easily be debated how important this is the fact remains that it is often still required or desired by companies / individuals.

But lets take a step back and talk about patents. A patent is a right granted to an inventor by the federal government that permits the inventor to exclude others from making, selling or using the invention for a period of time. This is a system that is supposed to encourage inventors to provide a product to the public that is unique and useful. A patent can be applied to nearly any physical product or process for making products. So that means nearly anything is open game.

Since there are little to no restrictions this means that patent trolls….oh right, whats a patent troll? Patent trolls work in the practice of obtaining and using patents for licensing or litigation purposes, rather than in the production of one’s own goods or services. So they obtain a patent for the purpose of suing people based on that patents product or process. Most trolls don’t use their patents to create products or build businesses. The great majority of trolls exist only as a means to drive revenue through litigation.

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There are some staggering numbers that go along with this epidemic. troll-generated lawsuits have been a problem for businesses for decades. Of late, however, the sheer number of suits filed by trolls has skyrocketed.

compounded annual growth rate in litigation by PAEs using acquired patents.1

of all high-tech patent lawsuits filed annually are filed by the patent trolls.

Patent trolls know that defending a lawsuit is expensive. They typically will sue companies they know will settle rather than risk a trial.

of all defendants in PAE suits are ultimately found to have infringed a valid patent.

…but the cost of defense is so high that more than 87% of defendants choose to settle before trial.

It doesn’t matter what you make or sell — PAEs will target any operating company if they think there’s a chance to make money.

of companies that have been a defendant in PAE litigation had less than $10 million in annual revenue.

companies have been sued at least once by a PAE.

Even if your company is able to successfully defend itself against a patent suit, you’ve likely had to pull your staff off other projects and invest in outside council, which eats away at your resources.

$211 Million less spent on R&D by firms that are forced to pay patent trolls

171 Lawsuits brought against Apple alone between 2009–2013

Patent trolling caught the attention of John Oliver and did a segment dedicated to their practices and how they get away with it.

Every year patent trolls are suing more and more companies. But these trolls should not hinder innovation or your progress in pursuit of your invention dream.

The Inventors Platform can help make sure that your invention is protected by a patent and take the necessary steps to ensure that your patent does not show up on these trolls’ radar.