Membership will protect Electrolux Group against costly litigations from patent assertion entities, reinforcing the company’s purpose to encourage innovation and design to ‘shape living for the better.’
Electrolux Group announced 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 assertion entities (PAEs).
PAEs, sometimes called “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 potential infringers.
Joining LOT Network helps 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 fees. LOT Network covers many leading companies across various industries, spanning numerous countries and patent assets.
For Electrolux Group, this membership minimizes litigation risks, permitting the company to concentrate on innovations that fortify its leadership in reinventing taste, care, and wellbeing experiences for millions of people, always striving to be at the forefront of sustainability in society through our solutions and operation.
“After careful review of the available means to fight unwarranted patent lawsuits from PAE, the LOT Network appeared as an easy choice to safeguard our innovation and unleash the power of collective protection against PAEs,” said Susan Storor, Head of IP Legal at Electrolux Group. “Being a part of the LOT community is a strategic move for companies like ours to mitigate the risk and costs associated with infringement claims from PAEs.”
“Electrolux Group is leading through action. By joining LOT Network, they are signaling their commitment to protecting the appliance ecosystem from unwanted PAE litigation,” said Ken Seddon, CEO, LOT Network. “We are delighted to welcome them into our community, adding their technology assets to the more than 4 million patents within our network.”
About Electrolux Group
Electrolux Group is a leading global appliance company that has shaped living for the better for more than 100 years. We reinvent taste, care and wellbeing experiences for millions of people, always striving to be at the forefront of sustainability in society through our solutions and operations. Under our group of leading appliance brands, including Electrolux, AEG and Frigidaire, we sell approximately 60 million household products in around 120 markets every year. In 2022 Electrolux Group had sales of SEK 135 billion and employed 51,000 people around the world. For more information go to www.electroluxgroup.com.
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 3,600+ members in 56 countries from PAE litigation for more than 4 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.