Other Legal Work Slow? Start A Practice To Help Patent Trolling

from the not-good dept

The economy still isn't doing so great, and that impacts everyone -- even lawyers. So what are they to do in weak times? Eric Goldman points out that in the past, they'd become bankruptcy lawyers, but this time around, it looks like some are realizing a more lucrative strategy is to get involved in patent trolling -- though they prefer to call it "IP monetization." This is, of course, just a continuation of the whole ridiculous focus on squeezing cash from unused or ignored patents, following the publication of the book Rembrandts in the Attic, which kicked off this effort.

From an economic standpoint, this activity is a pure dead weight loss on economic activity. There is nothing good that comes from it. You basically have companies that have ignored a patent they got for whatever reason, suddenly rediscovering it and using it to go after totally unrelated companies who actually innovated and brought products to market (almost always with no knowledge whatsoever of the questionable patent in the first place). And suddenly the actual innovators have to pay up to a company that did absolutely nothing with the invention.
Hide this

Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.

Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.

While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.

–The Techdirt Team

Filed Under: business, lawyers, patent trolls

Reader Comments

Subscribe: RSS

View by: Time | Thread

  1. identicon
    ChimpBush McHitlerBurton, 30 Nov 2009 @ 2:31pm

    Re: This is Why

    Here here.

    Further, I would like to see something of a stiff definition of "Invention". I can't stand how patent holders can call something an "invention" when all they did is collate a number of fanciful ideas of what *could* be created if one had the technology, or skill, or time, or manpower.

    We get people patenting *ideas for inventions* instead of inventions themselves, and then suing the persons who actually innovate and create something magnificent.

    I mean, under this system, Arthur C. Clarke could have "patented" the communications satellite, without having done anything to actually create one. Rubbish.

    So I can only assume there is someone out there who holds a patent on "Molecular Disintegration and Reintegration Transportation Device" and is just waiting for the StarTrek Transporter to finally become a reality.

    Then it's off to court!

    Don't hold your breath, asshole.


Add Your Comment

Have a Techdirt Account? Sign in now. Want one? Register here

Subscribe to the Techdirt Daily newsletter

Comment Options:

  • Use markdown. Use plain text.
  • Make this the First Word or Last Word. No thanks. (get credits or sign in to see balance)    
  • Remember name/email/url (set a cookie)

Follow Techdirt
Special Affiliate Offer

Essential Reading
Techdirt Deals
Report this ad  |  Hide Techdirt ads
Techdirt Insider Chat
Recent Stories

This site, like most other sites on the web, uses cookies. For more information, see our privacy policy. Got it

Email This

This feature is only available to registered users. Register or sign in to use it.