Category: Others/ Misc

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Get more familiar with the patent troll which is a patent infringement lawsuit filed by an NPE (Non-Practicing Entity) along with the tips to minimize the risk of patent trolls


Presentation Transcript



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Before explaining patent troll , it is important for you to get acquainted with two terms- patent and NPE. A patent is a government issued license that provides an inventor (person or an organization) with exclusive rights of manufacturing, using or selling the invented product for a specific period. NPE (Non Practicing Entity) is a term used for small and large patent aggregators, individual inventors and universities holding the patent of a product, but do not develop that product . The owner of an invention is granted a right (patent) by the government for preventing others from making any kind of commercial or non-commercial use of that invention without his permission. Here, the invention can be a new product, process, method or any solution to some kind of problem. After registering a patent, no other party can exploit your product or process.

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In simple words, a patent troll is a patent infringement lawsuit filed by an NPE (Non Practicing Entity). NPE is an entity holding patent of a process or product but does not manufacture or sell it. In patent trolling, a company holding patent but not producing or selling the associated invention sues some other company producing or selling the product or process associated with the patent. Today, we have anti patent troll laws for preventing patent trolling but people tend to avoid litigations due to damages and expenses . Patent trolls can target any company that uses patented technology to manufacture or use any patented product in the course of the business. There are many companies including yours that can be used for patent infringement. Therefore, it is important for any company to understand the threat that can be posed by patent trolls and develop a strategy to minimize the exposure to patent trolls.

Tips to Minimize The Risk of Patent Troll:

Tips to M inimize The Risk of Patent Troll

How To Minimize The Risk of Patent Troll:

How To Minimize The R isk of Patent Troll Collect the maximum information about the patent. You can also get the assistance of a patent attorney to help you out in this situation. However, a patent insurance coverage provides the best protection. Eliminating problematic patent is the best approach. However, sometimes, it is not possible to eliminate the patent. You need a team of top-notch experts to identify and acquire patents that are not prone to patent trolls.

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Moreover , you need a boatload of money for this job. If you can eliminate, then eliminate. If you cannot, get insurance cover. The patent attorney can give you the best advice whether you should fight or settle. The patent infringement risk is increasing. In addition, sadly, the costs involved in litigation are still too high. Therefore, many companies show the willingness to settlement. However, this multiplies the confidence of patent trolls. Therefore, every company that is using a patented technology or product should have proactive strategy to deal with patent trolls.

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