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How the LOT Network seeks to protect medtech, biopharma IP

February 10, 2022 By Brian Buntz

There are about 30,000 to 40,000 patents for sale on the open market at any moment. Traditionally, most patents for sale stem from distressed tech companies.

Patent assertion entities (PAEs, sometimes referred to as “patent trolls”) take advantage of the situation by buying up patents that provide fodder for patent lawsuits.

“They can just find a halfway decent looking patent for $50,000 or $100,000, and then they can threaten a high tech company with a $100 million lawsuit,” said Ken Seddon, CEO of the nonprofit LOT Network focused on protecting companies from the threat of PAE litigation.

Get the full story form our sister site, Drug Discovery & Development.

About The Author

Brian Buntz

The pharma and biotech editor of WTWH Media, Brian is a veteran journalist with more than 15 years of experience covering an array of life science topics, including clinical trials, drug discovery and development and medical devices. Before coming to WTWH, he served as content director focused on connected devices at Informa. In addition, Brian covered the medical device sector for 10 years at UBM. At Qmed, he overhauled the brand’s news coverage and helped to grow the site’s traffic volume dramatically. He had previously held managing editor roles on two of the company’s medical device technology publications. Connect with him on LinkedIn or email at bbuntz@wtwhmedia.com.