Introduction To Patent Troll And How It Can Be Minimized

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INTRODUCTION TO PATENT TROLL AND HOW IT CAN BE
MINIMIZED
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• Before explaining patent troll, it is
  important for you to get acquainted with two
  terms- patent and NPE. A patent is a government
  issued license that provides an inventor (person
  or an organization) with exclusive rights of
  manufacturing, using or selling the invented
  product for a specific period. NPE (Non
  Practicing Entity) is a term used for small and
  large patent aggregators, individual inventors
  and universities holding the patent of a product,
  but do not develop that product.
• The owner of an invention is granted a
  right (patent) by the government for preventing
  others from making any kind of commercial or
  non-commercial use of that invention without his
  permission. Here, the invention can be a new
  product, process, method or any solution to some
  kind of problem. After registering a patent, no
  other party can exploit your product or process.

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• In simple words, a patent troll is a patent
  infringement lawsuit filed by an NPE (Non
  Practicing Entity). NPE is an entity holding
  patent of a process or product but does not
  manufacture or sell it. In patent trolling, a
  company holding patent but not producing or
  selling the associated invention sues some other
  company producing or selling the product or
  process associated with the patent. Today, we
  have anti patent troll laws for preventing patent
  trolling but people tend to avoid litigations due
  to damages and expenses.
• Patent trolls can target any company that
  uses patented technology to manufacture or use
  any patented product in the course of the
  business. There are many companies including
  yours that can be used for patent infringement.
  Therefore, it is important for any company to
  understand the threat that can be posed by patent
  trolls and develop a strategy to minimize the
  exposure to patent trolls.

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Tips to Minimize The Risk of Patent Troll
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How To Minimize The Risk of Patent Troll

• Collect the maximum information about the patent.
  You can also get the assistance of a patent
  attorney to help you out in this situation.
• However, a patent insurance coverage provides the
  best protection.
• Eliminating problematic patent is the best
  approach. However, sometimes, it is not possible
  to eliminate the patent. You need a team of
  top-notch experts to identify and acquire patents
  that are not prone to patent trolls.

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• Moreover, you need a boatload of money for
  this job. If you can eliminate, then eliminate.
  If you cannot, get insurance cover. The patent
  attorney can give you the best advice whether you
  should fight or settle.
• The patent infringement risk is increasing.
  In addition, sadly, the costs involved in
  litigation are still too high. Therefore, many
  companies show the willingness to settlement.
  However, this multiplies the confidence of patent
  trolls. Therefore, every company that is using a
  patented technology or product should have
  proactive strategy to deal with patent trolls.

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