Changes

Patent Trolls are an innovation bogeymen, with numerous research articles and legislation addressing ways to curb troll activity. Patent Trolls, also known as [[Patent Assertion Entities]] (PAEs), generate revenue through suing or threatening to sue businesses that infringe on patents. Experts dispute terms for such corporations, labeling them as either [[Patent Assertion Entities]] (PAEs) or [[Non-Practicing Entities]] (NPEs). PAEs are defined by the FTC as "firms with a business model based primarily on buying patents and then attempting to generate revenue by asserting them against businesses that are already practicing the patented technologies."[https://www.ftc.gov/policy/studies/patent-assertion-entities-pae-study] NPEs are firms that rely on Patent Licensing activities for revenue. [http://www.unifiedpatents.com/news/2016/5/30/2015-patent-dispute-report] There is no widely agreed upon definition of 'Patent Troll', because it is often used interchangeably with the terms [[Patent Assertion Entities]] and [[Non-Practicing Entities]], whereas we make a distinction between these three terms. For our study, we define Patent Trolls as a 'person or entity that attempts to enforce patent rights against supposed infringement far beyond the patent's actual value'[https://en.wikipedia.org/wiki/Patent_troll]. Their asked damages are far beyond the market value of the patent. This is a tactic used to scare small businesses in the initial demand letter, when pressing them to pay the fee to license the patent. http://www.unifiedpatents.com/news/2016/5/30/2015-patent-dispute-report