I just came across an interesting article that I had to share.
http://venturebeat.com/2013/09/17/findthebest-sues-patent-trolls-under-anti-mafia-rico-act/
Kevin OâConnor, FindTheBestâs CEO and founder is using RICO laws, originally passed to deal with organized crime, to put a stop to patent trolling. Will it work? Only time will tell. But their are some interesting similarities to copyright trolling. Here are a few out takes, but I recommend you read the whole article.
I am betting most of us can see some similarities to copyright trolls.
With the statistics that we are beginning to compile on Getty, the shoe just might fit here.
What do you all think?
http://venturebeat.com/2013/09/17/findthebest-sues-patent-trolls-under-anti-mafia-rico-act/
Kevin OâConnor, FindTheBestâs CEO and founder is using RICO laws, originally passed to deal with organized crime, to put a stop to patent trolling. Will it work? Only time will tell. But their are some interesting similarities to copyright trolling. Here are a few out takes, but I recommend you read the whole article.
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Patent trolls described
OâConnor described patent trolls as the âparasitesâ of the tech industry. They are generally shell corporations that buy up patents, not to use them in business, but merely to file lawsuits against other companies that allegedly infringe upon them. The patents are often extremely vague and the suits âfrivolous,â OâConnor said. However, defending a lawsuit in court is so expensive that companies will write settlement checks, regardless of the validity of the claims.
I am betting most of us can see some similarities to copyright trolls.
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Why he is doing it
âBusiness isnât always about making money,â OâConnor said. âItâs also about doing whatâs right, which is why I am using my own money. Most startups donât have that luxury, but we are getting a ton of support. I am not sure if we are going to see a fix, but I donât like this uncertainty. These court cases have doubled in the past few years, and they will double again. When does it end?â
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How he is doing it
Rather than just defending his company in court, he is filing a civil RICO suit against Lumen for engaging in mail fraud, wire fraud, and extortion, âattacking the defendantâs attempts to extort money out of the company based upon false, objectively unreasonable, and baseless claims of patent infringement.â
With the statistics that we are beginning to compile on Getty, the shoe just might fit here.
What do you all think?