Daikin, the global leader in heating, ventilation, air conditioning, cooling and refrigeration (HVAC&R) products is heating up its patent strategy with membership in the world’s largest patent community. The company’s membership in LOT freezes any attempts by patent trolls to file unnecessary suits.
PHOENIX (April 19, 2023): LOT Network, the international, non-profit community of companies working together to protect themselves against litigation brought on by patent assertion entities (PAEs, also known as “patent trolls”) today announced that Daikin Industries, Ltd. (“Daikin”) (TSE:6367), a leader in developing and manufacturing advanced, high quality air-conditioning, heating, ventilation, and refrigeration products, has joined its community. Daikin’s membership in LOT will allow the company to focus on developing innovations that further strengthen its position as a global innovator in air products for residential, commercial, and industrial applications.
“We are pleased to join this thriving organization,” said Takeo Abe, Daikin’s IP department manager. “The collective wisdom of operating companies banding together shines in the midst of recent economic uncertainty. Our company wants to focus on offering new value for the environment and air to realize both contributions to a sustainable society and group growth. Joining LOT Network can be a reasonable and strategic option because it provides both protection against costly, unwanted PAE litigation and having opportunities to collaborate with other LOT Network members.”
“We’re finding that manufacturing companies are among the most litigated industries by PAEs,” said Ken Seddon, LOT Network CEO. “Recent studies have shown that over 52 percent of companies targeted by these lawsuits over the last six years are concentrated in two Standard Industrial Classification (SIC) Divisions – manufacturing and business services. Top companies targeted are those with technology-heavy and consumer-facing products and services. Daikin is sending a clear signal that their innovations and customers are protected by the LOT agreement, while being good stewards to help address global warming – without being distracted by PAE litigation.”
LOT Network members agree that if, and only if, any member’s patent assets fall into the hands of a PAE, all the other members of the community receive a free license, thereby immunizing them against PAE litigation from those assets. Members still retain traditional uses of their patents and are still free to sell or transfer their patents, participate in patent pools, license them for revenue, or assert them.
About Daikin:
Daikin Industries, Ltd. (TSE:6367) is the global leader in developing and manufacturing advanced, high-quality air conditioning, heating, ventilation, and refrigeration products and solutions for residential, commercial, and industrial applications. Founded in Japan in 1924, the company strives to combine expertise and experience to create new value with air by anticipating the future requirements of customers and society. Daikin has evolved over nine decades to employ exceeding 88,000 people with above 100 production bases and presence in more than 170 countries worldwide.
About LOT Network
LOT Network, the world’s largest patent licensing platform, is an international, non-profit community of leading global companies committed to protecting themselves against costly litigation from patent assertion entities (PAEs). LOT Network currently protects more than 2,800+ members in 56 countries from PAE litigation for more than 3.8 million worldwide patent assets and counting and includes 16% of all U.S. patents within the organization. Members include market leaders such as IBM, Toyota, Visa, Canon, Google, Red Hat, Tesla, Cisco, Amazon, Microsoft, Alibaba and Salesforce, as well as innovative companies across industries. Visit www.lotnet.com to learn more or download LOT Network’s agreement.
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