It is estimated that U.S. companies spent almost $29 billion through 2012 on lawsuits and other actions brought by litigious patent holders. These patent assertion entities—commonly known as patent trolls—use patents that are too broad to support these frivolous lawsuits. They employ tactics like threatening lawsuits Patent trolls are usually well-financed, large companies which use these lawsuits or threats of litigation to suppress innovation and competition. The increasing number of patent troll lawsuits—from 29 percent of all infringement suits in 2010 to 62 percent in 2012—indicates new strategies to curb these malicious tactics must be developed. A new service called Kill the Patent Troll offers a powerful way for small, midsize and large companies that have been victimized by these malicious litigants to unite and win these costly legal battles.
Kill the Patent Troll was designed as an interactive program that will enable companies, patent attorneys and business professionals to share information about patent trolls, as well as sponsor crowdfunding campaigns to support legal defenses. The app encourages participation by the business community by adopting a game format with characters and a reward system. Kill the Patent Troll is the ideal platform for patent attorneys who can use this growing community to unify victims and pool resources. Patent trolls often bully underfunded victims—like small and midsize companies—into settling for thousands or millions of dollars, and many companies agree to them because they can’t afford the alternative which is a long and expensive court battle. To help neutralize these tactics, Kill the Patent Troll pools the resources of troll victims to effect a powerful counter-strategy which may include publicizing the issue, litigation defense, or counter suits.
Heading the Kill the Patent Troll project is acclaimed international business and intellectual property expert Alvaro R. Bonilla who has represented clients like Samsung, Vizio and other major corporate entities. He was also an architect of major policies like the Colombian Cybercrime Act, and is a member of some of the most important IP associations. He and his team have worked for years on patent law, and have developed the Kill the Patent Troll app as a powerful tool to counter this increasingly popular strategy among industry giants.
The Kill the Patent Troll app should become available by September of 2015, but it will require $50,000 to reach a Minimum Viable Product. To raise these funds, the team has sponsored a fundraising campaign on the crowdfunding platform Kickstarter. If you are able to make a financial pledge to this important project, you may be eligible for generous rewards like free subscriptions to Kill the Patent Troll, game privileges, and in-game rewards.
To learn more about Kill the Patent Troll, or to make a pledge, please visit http://kck.st/1FdrlA1
Distributed by GetMeCrowdfunded
Company Name: Kill the Patent Troll
Contact Person: Linda Gomez
Phone: +1-786 2474721
Country: United States