In an article on June 9, 2013, Adweek quoted Venable partner Stu Ingis on patent trolls. President Obama recently issued a set of executive actions to rein in such patent assertion entities who send companies thousands of demand letters claiming patent infringement in order to acquire settlements or license fees.
In addition to the tech industry, advertisers and marketers are also targets of this practice to the tune of an estimated $10 million in settlements and other costs. In response, five advertising and marketing organizations formed the Stop Patent Abuse Now Coalition (SPAN) to put more pressure on Congress and the Federal Trade Commission to intervene. Ingis, who provides legal counsel to SPAN, commented on the scope of patent trolling, saying "it's not a niche issue."
In addition to the tech industry, advertisers and marketers are also targets of this practice to the tune of an estimated $10 million in settlements and other costs. In response, five advertising and marketing organizations formed the Stop Patent Abuse Now Coalition (SPAN) to put more pressure on Congress and the Federal Trade Commission to intervene. Ingis, who provides legal counsel to SPAN, commented on the scope of patent trolling, saying "it's not a niche issue."