HP Joins LOT Network to Protect 25,000 Patents
HP has joined LOT Network, an organization that shields member companies from patent litigation. The company's over 25,000 patents are now part of the network's shared patent portfolio.
HP has announced its participation in LOT Network, an organization dedicated to protecting companies' innovations from patent assertion litigation.
By joining, HP contributes over 25,000 patents to the network. LOT Network operates on a mutual defense principle, where members grant each other licenses to their patents, thereby immunizing them against litigation from other members. This move signifies that LOT Network members are now protected from patent assertion entities representing more than 25% of all U.S. patents.
The LOT Network comprises over 6,300 companies committed to safeguarding innovation. The mechanism involves patents being transferred to LOT Network, which then guarantees members protection against them. This framework aims to deter "patent trolls" – entities that acquire patents primarily to sue other companies.
HP stated that this strategic alliance is intended to foster a stable and predictable patent landscape, essential for ongoing innovation and technological advancement.