OneTrust, the market-defining leader for trust intelligence, today announced that it has joined 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”). OneTrust joining the LOT (License on Transfer) Network’s community of 3,700+ companies, including eight of the world’s largest cloud providers, is intended to enable OneTrust to protect the interests of the Company against patent assertion entities.
The LOT Network community is committed to protecting members against costly and frivolous PAE litigation. Members agree that if a member’s patent asset falls into the hands of a PAE, other members are granted a license to that patent – rendering them immune to a PAE lawsuit using that patent. With the number of intellectual property rights cases initiated by patent trolls growing by 500% in the last decade1, the average lawsuit costing $4 million to defend, and 87% of patent assets used in PAE lawsuits originating from operating companies2, LOT Network’s coverage of 4 million patent assets globally provides broad protection and peace of mind to member companies.