Thursday, March 21, 2024 4:57:45 PM
Those of us who migrated here from IDCC are well aware of the havoc caused by baseless lawsuits and sure hope LWLG doesn't become a target. Controlling the location of the lawsuit(if possible, see below) is key to neutralizing this threat. Perhaps your legal background and thoughts on this latest revelation could be helpful to the board.
From today's WSJ
Patent Lawsuits Are a National-Security Threat
Third parties can secretly fund litigation, take a cut of the proceeds, and hamstring key companies like Intel
https://www.wsj.com/articles/patent-lawsuits-are-a-national-security-threat-secretly-funded-litigation-f3cd5bd4
“Third parties are increasingly funding patent litigation in the U.S. in exchange for some of the proceeds. This practice was nearly nonexistent as recently as 2010 but now appears to account for about 30% of the country’s infringement lawsuits. The government doesn’t know who pays for or controls these suits. That could allow foreign adversaries to profit from our legal system and threaten U.S. national security......
When Colm F. Connolly, chief judge of the U.S. District Court for Delaware, ordered VLSI to disclose who was funding its litigation in August 2022, the company agreed to dismiss its case with prejudice. (Fortress didn’t respond to a request for comment.)
This was an extraordinary act. VLSI had pursued its lawsuit against Intel for several years. Nearly 1,000 filings had been entered in the case, and the company must have spent millions on the proceedings. Yet it seemingly preferred to walk away, pledging never to sue Intel or its customers on the patents".
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