How to fight back against ‘patent trolls’June 24, 2013 4:32 pm Leave your thoughts
"Patent trolls" are a consistent thorn in the side of businesses. Rather than produce anything of value, these companies exist to collect patents and sue the legitimate businesses that try to utilize the intellectual property. Every year, companies are forced to pay the cost of defending against this litigation. Many more simply choose not to, giving up the chance at a profitable business venture.
It's gotten to the point where even the White House has taken notice. Earlier this month, President Barack Obama announced a series of executive orders and other recommendations to deal with the problem.
But until reforms take effect, a recent article in Tech Cocktail offered start-ups and their lawyers advice for handling patent trolls.
"It is very possible to win against a troll if you invest time and resources," Lee Cheng, chief legal officer at Newegg, told the news source.
Often, patent trolls will begin their arduous process by sending letters to companies claiming infringement. Sometimes, these letters arrive just after a company has reveled that it received venture capital funding.
"Send the patent troll's letter to an attorney before responding," James Foster, CEO of Riskive Cybersecurity, told the news source. "If you are lucky, you never hear from the patent troll again.
Business owners may not realize that a patent troll's case can often be weak, since the trolls are primarily seeking to scare companies into settling out of court. However, by consulting with a Phoenix small business attorney, merchants can offer patent trolls a fight that they may not have been prepared for.
Categorised in: Business Law
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