New research released by Patent Freedom, an on-line community of companies that access and share information about non-practicing entities, shows that patent trolls are as busy as ever.
Patent trolls are companies or individuals that secure patents on a range of inventions with no intention of ever actually producing or using these inventions. Instead, they wait until another entity attempts to put a similar invention into commercial practice, then hit them with costly patent infringement lawsuits in order to make quick cash and keep other companies' productivity at a standstill.
Consider these statistics:
- The number of lawsuits filed by patent trolls increased 40 percent between 2007 and 2011.
- Patent trolls filed a total of 3, 134 suits in 2013, which represents more than half of all patent lawsuits.
- Companies identified as patent trolls sued 11 percent more companies in 2013 than 2012, and filed 18 percent more lawsuits altogether.
- Shell companies accounted for 63 percent of all patent cases filed in 2014.
- There were 36 percent more cases filed this January than in the same month last year.
- Another 499 patent litigation cases were filed last month, marking the third straight month-on-month increase in patent lawsuit filing.
Meanwhile, legislators continue to debate how best to tackle the issue. If you believe you're being unfairly targeted by a patent troll, you need solid representation. Contact Daniel Law Offices in Orlando at 407-841-8375 or Tampa at 1-866-37PATENT.