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 Patent News |
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| Subject : US Patent Troll Hunting for SNS Patent in Korea |
| Date |
2011-05-30 |
Visit |
6346 |
CEO of a Korean patent management company recently got a call from a US patent attorney requesting to find a patent filed in the United States regarding Korea’s social network website Cyworld.
He also explained that he received a similar unofficial proposal from the well-known patent troll Intellectual Ventures.
According to a tip given from the IP industry on 16 May, American patent management companies have recently been on a hunt for social network site (SNS) related patents in South Korea.
The reason behind such interest is due to the great success of Facebook, which is tremendously raised the value of the SNS market worldwide.
If a Korean individual or corporation has filed a patent regarding the technologies employed by Facebook or other SNS companies in the US, the patent management companies plan on buying the patent to sell it off at a higher price or receive royalties from the SNS companies.
Even if such patent was filed in South Korea, the patent management companies can receive priority dates and can try to negotiate a hefty sum with the SNS companies.
If these patent trolls succeed in discovering patents that accurately match the technologies used by Linked In or Facebook, they may be able to win huge sums of money.
Some view the present as the best time for filing patent infringement suits against SNS companies. Also, since the SNS market first opened in Korea, patent trolls believe there are great chances of finding such patents in the country.
Also, even if such patents do not exist, patent trolls plan on acquiring such patents because they believe that they will become useful due to the well-developed SNS market in South Korea.
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