Vulture capitalism at its finest. These firms buy up spotty/old/vague patents from dying or dead companies and then go on a suing bonanza filing suits against companies that actually provide products & services and contribute to the economy. These suits are incredibly expensive as IP law is a specialized field, so many choose to settle these baseless suits for six figures rather than pay seven figure legal bills.
Firms have claimed “ownership” of everything from including an image on a web page to the idea of an online shopping cart to the creation of a digital list.
Yes. These companies are garbage. We shouldn’t have patents that last nearly this long, but if they aren’t in use they definitely should not be transferable.
I have to disagree on only the lawyers making money though, the patent trolls have made millions in payouts by companies that do not want to go to court.
Vulture capitalism at its finest. These firms buy up spotty/old/vague patents from dying or dead companies and then go on a suing bonanza filing suits against companies that actually provide products & services and contribute to the economy. These suits are incredibly expensive as IP law is a specialized field, so many choose to settle these baseless suits for six figures rather than pay seven figure legal bills.
Firms have claimed “ownership” of everything from including an image on a web page to the idea of an online shopping cart to the creation of a digital list.
The only winners are lawyers.
Yes. These companies are garbage. We shouldn’t have patents that last nearly this long, but if they aren’t in use they definitely should not be transferable.
I have to disagree on only the lawyers making money though, the patent trolls have made millions in payouts by companies that do not want to go to court.