LOT Network is a highly effective organizational deterrent against PAE litigation
PHOENIX, December 8, 2023 /PRESS RELEASE/ — LOT Network, the world’s largest patent licensing platform, announced today that Roblox has joined its non-profit community of global companies committed to protecting themselves against costly litigation from patent assertion entities (PAEs). PAEs are responsible for nearly 90% of high-tech patent litigation. With nearly 3,500 members and 4 million protected patents in its community, LOT Network is a highly effective organization-based deterrent against PAE litigation. Roblox’s decision to join LOT Network was driven by a strong desire to support innovation while adding additional protections against PAE litigation.
“The proliferation of PAE lawsuits costs companies millions annually in litigation expenses, with a real impact on business operations. Roblox’s decision to join LOT Network illustrates its commitment to protecting its business ecosystem, retaining resources to invest in real innovation,” said Ken Seddon, CEO of LOT Network.
LOT Network was specifically created to prevent unwanted litigation brought by PAEs.
Members retain all traditional uses of patents, including reselling or transferring them, participating in patent pools, licensing them for revenue, or asserting them. All network members agree that if any member’s patent assets fall into the hands of a PAE, the company provides a license to all other network members, thereby immunizing all members against litigation related to those assets.
PAEs use the patent system for financial gain. Patents and intellectual property are designed to support and protect the innovation of inventors and developers, and membership in LOT Network is part of a company’s commitment to fostering a culture of creativity, progress, and fair play.
The patents covered by LOT Network represent a wide range of technologies, including AI, IoT, the Metaverse, and cloud computing, among others, and members hail from 55 countries across the globe.
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