‘Patent Trolls’ Get Biggest Piece Of Patent Pie
September 15, 2012 § Leave a Comment
So-called patent trolls – which don’t actually make anything – in recent years received significantly larger damages awards on average than those won by companies that make things, a new report found.
Critics of “trolls,” or nonpracticing entities, claim they hold huge numbers of patents and make money by simply attacking others with litigation.
During the 2006-2011 period, these “trolls” received a median damages payment of $6.9 million versus practicing entities’ $3.7 million, according to the study by PricewaterhouseCoopers.
via Business Insider.
I know this is not my usual post but it’s important. These Patent Trolls cost everyone money and contribute nothing to the economy. They don’t provide jobs. They provide little tax revenue. Yet they drive up the cost of goods that we all buy on a regular basis.
This is a legal problem that must be solved in Washington if we want to get this country moving again.