Tech giants descend on Washington to talk patent trolls with the FTC and DoJ

Google, BlackBerry, EarthLink and Red Hat team up to combat patent trolls the legal way.

| Apr 5, 2013 at 12:33 pm CDT

Four of the tech industries largest companies are in Washington today to appeal to the Federal Trade Commission and the Department of Justice in an effort to put a stop to patent trolling from firms like Lodsys and Intellectual Ventures.

Tech giants descend on Washington to talk patent trolls with the FTC and DoJ | TweakTown.com

Patent trolling has become a sort of industry all of its own in the last few years with firms headed up by lawyers buying up tech patents from failing companies or sell-offs. These firms have no original IP of their own and only exist to extort exorbitant licensing fees and lawsuit wins over everything from individual app developers to giants, such as Google.

The "patent assertion industry" has gotten so big that in 2012 it ate up roughly $30 billion in funds from large tech companies. Google has teamed up with BlackBerry, EarthLink and Red Hat and compiled a 22-page report explaining how Patent Assertion Entities have slowed innovation, decreased jobs, and overall hurt the US economy in the last decade.

The report noted that since 2007, these so called PAE lawsuits have made up over 65-percent of all patent lawsuits in the country.

Last updated: Jun 16, 2020 at 04:29 pm CDT

NEWS SOURCE:techcrunch.com

ABOUT THE AUTHOR -

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

Related Tags

Go to top of the page