FOSSPatents Intellectual Ventures (IV) is a company that buys old patents and extorts forces productive businesses to pay IV licensing fees. Patent Trolls such as IV account for 67 percent of all new lawsuits. But over the last few year, the New York Times, NPR and even the Wall Street Journal have all turned against companies such as IV. One reason for the turn in public opinion is the growing number of studies which show that patent trolls are causing a number of businesses to be forced into near bankruptcy by defending these lawsuits. Studies put litigation expenses at $29 billion a year…
Last year, mega patent-troll Intellectual Ventures opened up shop in Washington, D.C., to push their yearly million dollar lobbying effort. Since its founding in 2000, IV is believed to have raised about $6 billion in cash.
Landmark has been suing people under several names since 2003 and has gotten tens of thousands of dollars by scaring small businesses into paying them for the ability to stay out of court.