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The second kind, private parties, often use the patents they acquire for profit through damage or settlement awards, or royalties and licensing rights. NPEs who acquire patents solely for profit (and not commercialization) are also called “PatentTrolls” or “ patent assertion entities.”
The term ‘PatentTroll’ originated in 1994 in an educational video by Paula Natasha Chavez called the ‘Patents Video.’ ’ A patenttroll is a term used for describing a company that uses Patent Infringement claims to win arguments and court judgments for profit or to stifle competition.
AI and IP Law: Podcast with Yuri Eliezer by Yuri L. Eliezer AI and IntellectualPropertyLaw An Insightful Discussion with Yuri Eliezer The intersection of Artificial Intelligence (AI) and IntellectualProperty (IP) Law is becoming increasingly significant in the dynamic landscape of technology and innovation.
Furthermore, open-sourcing immensely helps companies and firms in tackling patenttrolls. Open-source repositories such as GitLab and GitHub that are publicly available and verifiable have proved to be crucial resources in invalidating trollpatents. In this scenario, obtaining patent protection may be a wise decision.
The purported reason Congress created IPRs in the AIA was to “ increase patent quality ” by allowing rapid adjudication of “ [p]atents of low quality and dubious validity” and to “curb abusive behaviors” that cause large companies to settle “frivolous cases.”
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