Typically, these letters demand so-called ‘licensing fees’ range from $1,000 to $50,000 or more to avoid a patent infringement lawsuit that could cost these businesses far more to defend against in court—even if the business owner is innocent of any infringement.
What exactly are patent trolls? They are people who knowingly use questionable patents to extort licensing fees from businesses who can’t afford or wish to avoid the much higher costs of defending themselves in court.
But amid the clamor from the business community and elected officials to rein in patent trolls, one group has remained largely silent: the patent licensing industry itself. Unlike responsible players in other industries where abuses have occurred over the years, the leaders of America’s two centuries-old patent licensing industry have not exactly been strong advocates of reform in their own backyard.
This is unfortunate, because while patent troll demand letters are a big economic problem for small businesses, costing them millions of dollars in settlement fees and legal costs annually, they are an even greater political problem for our industry and for the patent system as a whole. Simply put, they are wrecking public confidence in the patent system—and by extension, undermining our nation’s bedrock belief in the great economic benefits that system produces.
Yet, many in our industry keep fiddling while innovation’s Rome burns. That’s too bad, because although reliable data on the extent of the demand letter problem and its economic impact are hard to come by, there is mounting anecdotal evidence that the deluge of demand letters is harming one of the nation’s most critical job creation and innovation sectors. I am referring, of course, to, small businesses and startup companies.
The reported impact usually takes the form of hiring delays, reduced R&D spending, or a negative change in product or business strategy. One study reported that 70 percent of 200 venture capitalists surveyed had invested in startup companies that later received extortionist demand letters.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
