Last week's Traklight on Forbes series was a recap of the CodeX Demo Event on Legal Technology, which featured top legal tech company founders' perspectives on the growing industry. Check back every Thursday for more content. Thanks for reading!
Going with a Halloween theme, this week Mary covers the topic of Non-Practicing Entities (NPE's), also known in the world of intellectual property as "patent trolls." These trolls strike fear in business owners because of the financial burden of litigation and the potential to wipe out business' valuation. NPE's buy patents, and use their claim on overly vague patents to pursue legal action against businesses with the intent of winning a settlement. These NPE's never actually attempt to use the patent to develop their own product, hence the name Non-Practicing Entity. Their whole business model is based on abusing the legal system.
To help people get through the tough situations patent trolls or NPE's cause, Mary interviews Unified Patents, who explain that they deter "Non-Practicing Entities from monetizing patents in strategic technology areas, called zones. Unified’s activities exclusively focus on creating deterrence by monitoring NPE activity and combatting the use of low quality, invalid patents."
In most horror stories, the worst fate tends to befall those who venture out alone. Teaming up with other businesses can provide a stronger defense and greater resources in the fight against patent trolls. Traklight is proud to partner with Unified Patents in their efforts to put an end to these frivolous lawsuits. For more information, visit http://info.traklight.com/unifiedpatents.
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