A Virginia firm is accusing Durham LED maker Cree of infringing on four patents, and is asking for “a reasonable royalty” to be awarded in court. But this time it’s not a competitor filing suit in federal court, it’s Bluestone Innovations LLC, a patent licensing and enforcement company often categorized as a “patent troll.”
In the five years since it began its work — a result of the America Invents Act of 2011 — the Patent Trial and Appeal Board has saved companies more than $2 billion in legal fees alone, according to Joshua Landau, patent counsel at the Computer and Communications Industry Association, offering an expeditious and relatively cheap avenue to challenge patents of doubtful validity.
The benefits of stopping bad patents from snaking their way through the economy have been even greater.
For many businesses across the country, innovation is the key to success and growth. Unfortunately, many companies in my sector are facing impediments to their well-earned success in the form of patent trolls.
This is a tale of two former bodybuilders, facing off in court — over a patent. And not just any patent: Based on federally funded research, this one has a pedigree that links back to one of the most prestigious universities in the world. And this kind of legal mano a mano raises questions about the role of universities in the patent system.