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TikTok guardian ByteDance joins patent troll safety group LOT Community – TechCrunch
LOT Community, the non-profit that helps companies of all sizes and throughout industries defend themselves in opposition to patent trolls by making a shared pool of patents to immunize themselves in opposition to them, as we speak introduced that TikTik guardian ByteDance is becoming a member of its group.
ByteDance has acquired its justifiable share of patents in recent times and is itself embroiled in a patent struggle with its rival Triller. That’s not what becoming a member of the LOT Community is about, although. ByteDance is becoming a member of a gaggle of firms right here that features the likes of IBM, the Coca-Cola Firm, Cisco, Lyft, Microsoft, Oracle, Goal, Tencent, Tesla, VW, Ford, Waymo, Xiaomi and Zelle. In whole, the group now has over 1,300 members.
As LOT CEO Ken Seddon instructed me, the six-year-old group had a report yr in 2020, with 574 firms becoming a member of it and bringing its set of immunized patents to over 3 million, together with 14% of all patents issued within the U.S.
Among the many core options of LOT, which solely fees members who make greater than $25 million in annual income, is that its members aren’t shedding management over the patents they add to the pool. They'll nonetheless purchase and commerce them as earlier than, but when they determine to promote to what the business calls a ‘patent assertion entity,’ (PAE) that's, a patent troll, they routinely present a free licence to that patent to each different member of the group.
www.newsworldexpress.com/2021/02/18/tiktok-parent-bytedan...
TikTok guardian ByteDance joins patent troll safety group LOT Community – TechCrunch
LOT Community, the non-profit that helps companies of all sizes and throughout industries defend themselves in opposition to patent trolls by making a shared pool of patents to immunize themselves in opposition to them, as we speak introduced that TikTik guardian ByteDance is becoming a member of its group.
ByteDance has acquired its justifiable share of patents in recent times and is itself embroiled in a patent struggle with its rival Triller. That’s not what becoming a member of the LOT Community is about, although. ByteDance is becoming a member of a gaggle of firms right here that features the likes of IBM, the Coca-Cola Firm, Cisco, Lyft, Microsoft, Oracle, Goal, Tencent, Tesla, VW, Ford, Waymo, Xiaomi and Zelle. In whole, the group now has over 1,300 members.
As LOT CEO Ken Seddon instructed me, the six-year-old group had a report yr in 2020, with 574 firms becoming a member of it and bringing its set of immunized patents to over 3 million, together with 14% of all patents issued within the U.S.
Among the many core options of LOT, which solely fees members who make greater than $25 million in annual income, is that its members aren’t shedding management over the patents they add to the pool. They'll nonetheless purchase and commerce them as earlier than, but when they determine to promote to what the business calls a ‘patent assertion entity,’ (PAE) that's, a patent troll, they routinely present a free licence to that patent to each different member of the group.
www.newsworldexpress.com/2021/02/18/tiktok-parent-bytedan...