Patent trolls have sucked $500 billion out of US companies so far, Boston University study reveals
Researchers from Boston University have found out that publicly listed companies have been sued by "non-practicing entities", or the so-called patent trolls, to the tune of $500 billion in settlements since 1990.
The amount is breathtaking for companies that feed on nothing but loopholes. The average comes to about $25 billion per year, but in the last four years that figure has climbed up to $83 billion, so if someone does the same measurement in 2020, we might hit a cool trillion given away to patent trolls in this decade.
The reform bill that the President signed the other day only addresses the first-to-file issue, and doesn't really give long-term solutions to the boatload of unneeded, ambulance-chasing patent lawsuits that only serve to pad lawyers' pockets.