Ceres Power Holdings plc (CWR.L), announces that it has joined LOT Network, the world’s largest patent licensing platform and non-profit community of global companies committed to protecting themselves against costly litigation from patent assertionentities (PAEs).
PAEs, sometimes referred to as “patent trolls”, are responsible for a significant portion of high-tech patent litigation. Many of these patents are acquired via third parties and are used to profit through litigation against alleged infringers.
The LOT network which has over 3,500 members including companies such as Tata, BASF and BAE Systems helps to safeguard against PAEs. If a PAE acquires any patent asset once owned by a LOT Network member, all LOT Network members gain a license to that patent, shielding them from potential lawsuits (and associated fees). LOT Network covers many leading companies across various industries, spanning numerous countries and millions of patent assets.