Why Patent Trolls Are A Tax On Innovation (continued)
Matt Blumberg, CEO of our portfolio company Return Path, has a post on his blog today about the patent troll issue. His company, Return Path, is the company that spent $500,000 last year defending itself against a baseless patent infringement claim.
We are the company that he refers to who spent about half a million
dollars successfully defending ourselves (for now – who knows what appeals
might bring) against a baseless suit by a patent troll. For the record, we did try to settle and were
presented with a multi-million dollar option only. I have been advised by our lawyer not to
write about this case because there are elements of it that are still pending,
but I don't care. I'm irritated enough
about it that I want to get this out there while it's still fresh in my mind. And I'm not going to use names here or say
anything I wouldn't say publicly in any other forum.
Matt goes on to make one additional recommendation in the ongoing debate about patent reform. If this is an area you are interested in, click thru and read the whole post.