The advancement of technology and global marketing has added a new venue in protecting intellectual property associated with complex patents. Fortunately, the courts have started to intercede, examining the violation or infringement claims, based on intellectual property patent enforcement rights. The process isn’t simple. Documentation for the case is detailed and requires legitimacy in order for the person or small company to receive full patent protection.
Yesterday’s forerunners have spent many hours developing complex intellectual property systems, filing patents and securing the marketplace, establishing a wealth of revenue for years to come. So many times the patents are exploited taking the invention to market without authority, initiating an infringement on the rights of the inventor and those who invested in the concept.
The abundance of patents over the past decade may now be the cause for overlapping pre-existing patents due to advancements in the market. The introduction of new technology patents has introduced a secondary market, made up of private group investors or non-practicing entities. These groups are financing or buying existing patents, matching existing technology patents to a recently financed or purchased patent, and citing infringement violations based on their own patents. It’s become more critical for plaintiffs to hire an experienced firm to represent and prove true ownership and accurate compensation for proportional damages as a result.
These entities are known as patent trolls, using patent enforcement strategies to generate revenue instigating litigation trials. Depending on the size of the company or the ability to legally represent the company, most incidents will settle out of court, at a loss for the business and the company’s shareholders. It’s become a very successful method for generating revenue without having to produce or develop a product or service. As the market demands increase for better and more advanced technology, it’s getting harder to bring new product to market without some form of overlap to a preceding patent.
Today, judicial systems are more aware of the patent troll motives, and may see these actions as hostile. Trolls pursue consumers purchasing alleged infringed technology or small companies less capable to represent themselves in court. As each case is settled or judgment rendered, determinations are based on sufficient facts to show real controversy between the parties. Yet, non-practicing entities continue to seek modifications for winning strategies, enforcing patent violation claims as a primary source of revenue.
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