To thrive in the new IP economy it is essential that institutions in the financial industry put in place a culture of innovation and build proper IP infrastructure employing best practices in IP management. It also is essential such companies plan for patent litigation and act proactively to minimize the occurrence and risk of such litigation. To discourage further patent troll growth within the financial industry, a hard line is the right approach.In a comment on Cote's article, Philip Brooks writes:
As I read the article, I was struck with the complexity of the decision on whether to proceed to litigation when faced with a patent infringement suit or instead attempt to reach a settlement. The decision must reach beyond just the cost of the litigation (Mr. Cote indicates this can be in the range of $5 million) and the risk of losing and paying a large damage award. As he properly points out, a settlement can have large precedential value for your company and your industry. The same is true of a large damage award.Both articles are well worth a full read.
More: Bob Cote bio.
Aug. 25, 2005 - Is Ross Perot a Patent Troll?.
May 1, 2005 - No Product Does Not Mean No Patent Rights.
Apr. 1, 2005 - Are Patent Trolls Good or Bad?.