Selling patents to patent trolls

Patently Ridiculous: Obama Calls Out Patent Trolls in Fireside Hangout  February 15, 2013 – 08:30 pm

Patent trolls are the worst, and that’s coming straight from the top. President Obama on Thursday answered a question about patent trolls during his Google+ Fireside Hangout, and he didn’t have anything nice to say about them. The President didn’t exactly call trolls “the worst, ” but his comments were not far off.

In response to a question by an entrepreneur about friends who were afraid to start new tech companies because of the threat of patent trolls, Obama responded, “They don’t actually produce anything themselves. They are essentially trying to leverage and hijack somebody else’s idea and see if they can extort some money out of them.”

That sounds about right. A “troll” is a term for a company that earns at least the majority of their money from either licensing patents, or suing companies for infringing on vague patents that they own. Some do nothing else.

Obama signed The America Invents Act in 2011 that targeted patent litigation, making it more difficult to name a high number of defendants in a single suit — a classic troll move. The bill was a good start, but Obama admits that, “Our efforts at patent reform are only about halfway to where we need to go.”

Source: Geekosystem

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Here's a checklist

Startup basics
1. Determine what you will be selling and graph your vision in numbers;
2. If you are developing a new product review “To Patent or Not”
3. Determine actual costs – including your time –
4. What the customers will be willing to pay (Key factor!) eBay closed auctions.
5. Create simplified five-year spreadsheet (forecast): Sales less cost of material...The Law of 250”. This will be the real reason for your success. (Google it now, before doing anything else!)
11. If you are selling or prospecting online, sign on with Google’s pay per click and load it with as many keywords as you can imagine. If your market is local, Google Local – it’s free. Make the most of Craiglist, mostly free.
To be continued if you think this is of interest.

Hey, cool response. Let me counter your counter.

In general, pharmaceutical companies make the bulk of their profits by selling new drugs before their patents expire.
Intellectual property only exists because the government enforces the patent system through laws and regulations.
I submit the argument that cer...ficially monopolistic environments, and thus if given the choice, would favor the presence, rather than the elimination, of government in their affairs.

The following chart illustrates the effect of generic competition on the price of a cocktail of antiretroviral drugs, used to treat HIV, between 2000 and 2001.

Your request is being answered - part 1

Startup basics
1. Determine what you will be selling and graph your vision in numbers;
2. If you are developing a new product review “To Patent or Not”
3. Determine actual costs – including your time –
4. What the customers will be willing to pay (Key factor!) eBay closed auctions.
5. Create simplified five-year spreadsheet (forecast): Sales less cost of material..., logos and slogan. Register your Domain name, select any of dozens of companies selling this service.
10. Write press releases announcing your new business. Print up some business cards. Create a flier/brochure, hand them out with your elevator pitch. Learn and master Joe Girard’s “The Law of 250”. This will be the real reason for your success. (Google it now, before doing anything else!)

PatentBridge to Sell Patent Extending Retirement Account Duration  — MarketWatch
MENLO PARK, Calif., Jun 26, 2012 (BUSINESS WIRE) -- PatentBridge LLC, the preeminent Silicon Valley patent broker since 2003, is pleased to announce that it will be selling Patent 8055566, covering a unique solution to one of the greatest problems …

InterDigital's CEO Hosts Investor Conference (Transcript)  — Seeking Alpha
The way I think about it is we are selling patent assets and those would be subject to any existing encumbrances and those encumbrances are associated with license agreements revenue from which we would retain. Charlie Anderson - Dougherty …

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