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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.
A patent is a form of IntellectualProperty (IP) granted to the owners of an invention or innovation, giving them the right to control how others could use or exploit their invention or innovation. Furthermore, open-sourcing immensely helps companies and firms in tackling patenttrolls. For more visit: [link].
This case is another example of the Court striving to preserve the inter partes review (IPR) system, which allows anyone to file a petition requesting that the Patent Office cancel another’s patent. This certainly begs the question of who the actual “patenttrolls” are.
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