It just cost factual, a location data company that makes data accessible to everyone, about $1M to protect itself from a patent troll.
“We would have much preferred to invest the capital spent on this lawsuit – not to mention the countless hours of executive time – on further developing our data and technology,” Elbaz added. “I am fortunate that our investors and our financial position afforded us the ability to fight this. While it may be easier and cheaper for any individual company to settle, if enough companies fight these suits, we can collectively make it unprofitable to be a patent troll.”
..said Gil Elbaz, the founder of the company. Not all startups however can afford the money. Patent trolls are basically like the freeloaders of society who want to collect tax from anyone who do anything. It not only kills innovation, it kills business in general. This brings us to the topic of distinguishing what is patent-able and what is not. It’s not that hard you see, patents simply have no place in a real meaningful society which cares about people who make life possible. Patents are simply things used to crush innovation and competition. The basic tenet behind patents is that you can’t reproduce a piece of art if it has already been created and patented, so that other people can’t sell the same piece of art — It literally just sounds plain stupid to be honest.
Kudo’s to factual and Gil for winning this!