“NPEs are individuals and firms that own patents but do not directly use their patented technology to produce goods or services and instead assert their patent rights against companies that do,” Purcher reports. “Patent litigation costs to technology companies from NPE lawsuits have dramatically risen from $6.7 billion in 2005 to $12.6 billion in 2008 and more than $29.2 billion in 2011.”
Purcher reports, “The report goes on to state that ‘The rapid growth and high cost of NPE litigation documented here should set off an alarm warning to policy makers…’ A new report published today indicates that the domestic smartphone industry has indeed pressed the panic button to set off the alarm regarding the damage that patent trolls are exacting on their industry.”
Full article here.
[Thanks to MacDailyNews Reader “Edward W.” for the heads up.]