The patent troll problem has continued to stymie the federal legislature. While many states attorneys general have attempted to fend of non-practicing entities that use aggressive demand letters and threats of patent infringement litigation to extort money from companies large and small, the U.S. Congress has had trouble eliminating the trolls. And, as so often happens when the government cannot solve a problem, business interests have stepped up to the plate with their own solution.
A host of prominent tech companies, including Google, Dropbox, SAP, Newegg and Canon, have formed the License on Transfer (LOT) Network. The LOT Network is described in press materials as, “a new kind of royalty-free cross-license meant to address these growing systemic problems.”