Definition of Patent troll:
A company or person that acquires a lot of patents without the desire to actually develop the products. Instead of making money from the product, the company or individual launches a large amount of patent infringement lawsuits. The sole purpose of a patent troll is to identify infringers and sue them.
A patent troll is a derogatory term used to describe a company that uses patent infringement claims to win court judgments for profit or to stifle competition. The term may be used to describe a number of business activities that utilize patents and the court system to earn money.
While the practice of patent trolling is not illegal, a company that acts as a patent troll files patent claims without any intention of ever developing a product or service. The end result is bad faith infringement threats and licensing demands that require companies to spend a significant amount of money to settle these claims without any addition to the public good. A patent troll may also be called a "patent shark," "dealer," "marketer," or "pirate." A patent troll operation may be called a "patent assertion company," "entity," or a "non-manufacturing patentee.".
How to use Patent troll in a sentence?
- Patent trolls use a number of legal activities and loopholes that involve patents and the court system to earn money, including filing false patent infringement claims.
- While the practice of patent trolling is not technically illegal, a company that acts as a patent troll files patent claims without any intention of ever developing a product or service.
- A patent troll exploits existing structural issues within the U.S. patent and court systems in order to generate revenue.
Meaning of Patent troll & Patent troll Definition