Quiz: Could you survive among the patent trolls?
These days, high-tech innovators have to be able to navigate the tricky world of patent litigation. Would you be ready if a patent troll came knocking?
What is a patent troll?
- a company that makes money licensing patents
- a company that produces no products
- both of these
What is a more polite term for a patent troll?
- nonpracticing entity
- patent purveyor
- partnering participant
The U.S. Patent & Trademark Office was established in which decade?
When did the U.S. Patent Office begin patenting computer software?
True or false: Patents were never licensed until patent trolls came along.
In 1895, George B. Selden took out a patent for what device?
- the buggy whip
- the automobile
- the first computer
According to a Boston University School of Law study, patent suits cost targeted companies a total of how much over 20 years?
- $500 million
- $5 billion
- $500 billion
According to the Boston University study, what percentage of the losses sustained by companies targeted by patent suits wound up in the pockets of inventors?
- 2 percent
- 10 percent
- 47 percent
Patent trolls mainly target which industry?
Which court is considered most sympathetic to plaintiffs in patent cases?
- District Court for the Eastern District of Texas
- The World Bank Court
- The U.S. Supreme Court
What portion of patents contested in court are invalidated?
- 2 percent
- 11 percent
- 40 percent
Patents that are vague about what they cover are referred to as what?
What is the approximate number of patents applied for in a year?
About how much does it cost to apply for a patent?
How much time do Patent Office inspectors spend evaluating each patent application?
- 16 hours
- 3.5 weeks
- 6 months
How many patents cover the technology that makes a smartphone work?
- 250 patents
- 1,870 patents
- 250,000 patents
According to patent troll advocates, what advantages do they offer inventors?
- They hire lots of inventors.
- They license technology to inventors.
- They give inventors a place to sell their ideas.
What portion of patent suits are settled out of court?
- 33 percent
- 67 percent
- 97 percent
True or fase: Patent trolls usually target companies as soon as they are issued a patent.
What have large technology companies done to protect themselves against patent trolls?
- purchased their own portfolios of patents
- stopped using patented technology
- increased their research budgets