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Protecting Innovation in the Cyber World from Patent Trolls
Cybersecurity firms have a tremendous responsibility. They work 24/7 to protect many of the world's most trusted and valued companies and brands. Their clients rely on their expertise to protect crucial assets, and consumers trust that they are keeping client information safe and secure. At the same time, cybercrime is still a very real threat. In fact, "Cybersecurity Ventures predicts that cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015." (Cybercrime Magazine, Dec. 18, 2019).
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls" as they are commonly known). PAEs are companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.
Patent Litigation Can Happen to Virtually Any Business
At Trend Micro, we know first-hand how patent trolls attempt to extract millions of dollars from a business. A few years ago, a patent troll came after our IP with threats of infringement. Intellectual Ventures, a known patent troll, develops and licenses IP, and in essence they bought tens of thousands of patents and leveraged those patents against companies in an attempt to generate billions in royalties for themselves. In Trend Micro's case, we were confident that the patents Intellectual Ventures asserted against us were invalid, and always held the belief that our products and innovation never infringed upon them.
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Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.