Hello everyone,
Upon seeing Trevor’s presentation on patent trolls earlier this term, I thought that it would be interesting to discuss the LOT (License on Transfer) Network, an organizational network of companies whose goal is to protect members from patent trolls.
According to the Network’s website, all member companies of the LOT Network agree that “if, and only if, any member’s patent assets fall into the hands of a patent assertion entity (PAE), the company provides a license to all other network members, thereby immunizing them against PAE litigation from those assets. Members retain all other traditional uses of patents – including selling them, or using them to sue other companies”.
I have also attached a PDF of a sample LOT Agreement.
Communications Law