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.
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Filed Under: business, lawyers, patent trolls


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  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.

    CBMHB

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