I’m always energized by a gathering of our members, and this year was no different. At LOT Network BRIDGE on September 27, 2023, the Palace Hotel in San Francisco buzzed with the excitement of idea exchange and innovation. IP thought leader Cruise (Olivia Tsai), Google (Michael Lee), Meta (Christine Foo), and Microsoft (Burton Lee) kicked us off in a star-studded panel, and the day included insightful discussions on patent deal-making, in-house IP strategies, and the emerging contours of the Unified Patent Court. On the first anniversary of ADAPT, team members from Disney (Jessica Thomson), Google (Danielle Benecke, Steve Gong, and Gail Su), and Microsoft (Judy Yee) led an engaging half-day session focused on diversity, equity, and inclusion. The discussions included updates on the remarkable progress achieved by ADAPT during its inaugural year, as well as a showcase of the ADAPT data pillar.

Save the date: join us for LOT Network BRIDGE 2024 in Chicago on September 25th!

Now, let’s talk numbers. This year, LOT added 894 members as our community grew to over 3,400 entities from 54 countries. Some of our new members include  State Farm, Baidu, and HubSpot, among others. Our portfolio now includes 4,021,637 patent assets, representing 17% of US patents and 7% of global ones. But these aren’t just numbers; they’re a testament to the tireless endeavors of the LOT team and the community’s commitment to immunizing themselves from NPE threats. Find out more by reading our annual report covering LOT Network through October 2023.

The global economic pulse has had its ups and downs, with many of our member organizations feeling the pinch. LOT offers a way to help members: whether it’s pruning their patent portfolios to generate revenue or mitigating maintenance costs, members can sell assets to other members through LOT without any fees. 

With every new member joining LOT, the network’s value multiplies. And it’s heartening to see the community grow at an average of three new members daily. But it’s not just about adding members. It’s about ensuring that our patent ecosystem remains protected. LOT has tracked over 139,000 patent assets leaving the network. 4,700 of these went to NPEs, and not one has been used to assert against a member.

The strategies of PAEs are evolving. Their gaze has shifted beyond US borders, targeting global opportunities. Whether it’s Germany’s injunctive relief system, the UK’s dormant company regulations, or the rapid scaling of the legal system in China, PAEs are adapting. The introduction of the Unified Patent Court, covering 17 European nations, is another arena where we anticipate PAE activity to grow.

To protect companies in these jurisdictions, LOT Network is growing its team globally. With representatives in China, Europe, Japan, and India, LOT is providing its global members with a local touchpoint, someone who understands their market nuances. Collaborations with entities like LESI help amplify our reach, educating companies on the PAE threat and the help that LOT can provide.

LOT will continue to work toward a world where innovation can thrive. We’re glad you’re along on the ride.

Ken Seddon

CEO, LOT Network