Tech, Auto Companies Form Nonprofit to Disarm Patent Trolls
Tech, Auto Companies Form Nonprofit to Disarm Patent Trolls
To safeguard companies from so-called patent trolls, the nonprofit License of Transfer (LOT) Network automatically cross-licenses patents to all members to prevent them from being sued. Members pay fees based on their revenue, which range from $1,500 to $20,000 a year. The LOT Network now has 53 members that control about 360,000 patents. LOT executive director Ken Seddon wants the network to add 50 companies and expand its portfolio to a million patents by year's end, or about 40 percent of the 2.5 million active U.S. patents. LOT members include Google, Canon, Dropbox, Ford Motor Co., and JP Morgan Chase.
From the article of the same title. Government Technology (02/01/16) Said, Carolyn