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Author Topic: Patent Hitman - viable business idea?  (Read 1121 times)

patenthit

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Patent Hitman - viable business idea?
« on: 03-11-10 at 10:36 pm »

Patent Hitman's business model is to solicit troublesome patents and to find prior art to defuse a lawsuit (or threat thereof) OR as a competitive strategy by invalidating/weakening a competitor's broad patent.

Is this a viable business idea?
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InventorA.

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Re: Patent Hitman - viable business idea?
« Reply #1 on: 03-12-10 at 01:05 am »

My mistake...

I thought you were contemplating putting a "hit" on an obvious infringer...
who has the audacity to deliberately file a bogus patent on his former friend's
invention (just because he teamed up with a large scumbag company w/ deep pockets)
...in which case I'd say that you've got yourself an extremely viable idea there sonny !!!


But no,  I had it all wrong.
 



TERMINAL DISCLAIMER FOR WHACKJOBS:
This is a formal attempt at a little humor.
Anyone who tries to stretch this into more,
needs to place (what little there is left of)
his brain into a jar, and then pickle the MF!
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JimIvey

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Re: Patent Hitman - viable business idea?
« Reply #2 on: 03-12-10 at 07:01 am »

Is this a viable business idea?

Can't really say without knowing the revenue model.

Regards.
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--
James D. Ivey
Law Offices of James D. Ivey
http://www.iveylaw.com
Friends don't let friends file provisional patent applications.

patenthit

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Re: Patent Hitman - viable business idea?
« Reply #3 on: 03-12-10 at 10:49 pm »

Here's the website (nobody is getting whacked!!! lol)

http://patenthitman.com/

The idea is that if a broad patent is creating a company or individual "issues" then they can connect confidentially with the "patent hitman" and he will find invalidating or weakening prior art. Pay only if weakening art is located. Why wouldn't the company or individual give this a shot?

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MYK

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Re: Patent Hitman - viable business idea?
« Reply #4 on: 03-13-10 at 06:02 am »

In briefly looking at the website just now, the pitch just doesn't seem all that different from what any patent litigation firm will already do for a client whenever necessary as a part of the defense strategy.  Unless the patentholder threatening the suit is clearly blowing smoke (e.g., the client doesn't even come close to infringing the patent), or somebody forgot to pay the maintenance fee on the patent three years ago, or something else short-circuits the need to search for invalidating prior art, it's going to happen anyway.

The company might have employees who are already knowledgeable in the given art area, and so might feel more qualified to search for prior art on their own rather than hiring someone else.  If the "hitman" has expertise in the particular art in question, that would probably help him/her more than a general "I'll find prior art, any art, for $500!" pitch (with apologies to Earl Scheib).

Aside: I recall that one of the search firms (Cardinal, maybe) had a job listing on their website for well over a year, looking for an M.E. with automotive turbocharger knowledge.  I'm sure there were a lot of M.E.'s applying with the promise that they could learn the field, but the search firm apparently had very specific qualifications in mind.

I don't see where the site says that there is no charge unless "weakening art is located".  Even if that is correct, it seems like a bit of a red herring to me -- does the client have to pay when the "hitman" turns over the "weakening" art, or only if the "weakening" art succeeds in court (or on reexamination) in invalidating or damaging the patent?

There may also be secrecy issues;  a company might not want to reveal to an outsider that it is worried it may be infringing a particular patent.  The website doesn't mention whether the "hitman" is an attorney who would fall under attorney-client privilege rules.  If not, the "hitman" might be forced to reveal information during discovery, assuming a client had to explain anything beyond "find prior art against patent N,NNN,NNN" to him.

IMHO, the word "hitman" has extremely negative connotations and sounds frivolous in this context, as if the site owner is not taking the alleged infringer's problems seriously.  It's cute, but companies being sued for, potentially, millions of dollars tend not to be heavily into cuteness.

Lastly, the grammar and phrasing on the website seem a little odd.  While I recognize that there are many highly-skilled professionals for whom English was not a first language, this may be off-putting, and I would recommend getting the site professionally redesigned;  if you look around at law firm websites, even the most bottom-feeding attorney has a website that tries to make him look like a god.
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Disclaimer: not only am I not a lawyer, I'm not your lawyer.  Therefore, this does not constitute legal advice.

klaviernista

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Re: Patent Hitman - viable business idea?
« Reply #5 on: 03-16-10 at 02:16 pm »

I could swear that there was a website already based on this idea.  But try as I might, I can't find it.  Maybe it went under.  The closest I could find was this site:

http://www.post-issue.org/
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GRS Research

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Re: Patent Hitman - viable business idea?
« Reply #6 on: 03-16-10 at 10:04 pm »

I don't see where the site says that there is no charge unless "weakening art is located".  Even if that is correct, it seems like a bit of a red herring to me -- does the client have to pay when the "hitman" turns over the "weakening" art, or only if the "weakening" art succeeds in court (or on reexamination) in invalidating or damaging the patent?

MYK...Not that I'm big into conspiracies but I'll bet the poster, "patenthit", is our entrepreneurial assassin for hire.  patenthitman.com was registered March 8th of this year, anonymously of course. Our newbie "patenthit" created his account here on March 11. The poster offers the "no charge unless..." option, I don't see that anywhere on the actual site.

I don't think the business model is that different from hiring a professional patent search firm to locate the prior art.  New marketing but the same service.

And klaviernista...you might be thinking about BountyQuest; bounties placed on troublesome patents and only paid if killer art is found.  There is a new spin on that model with Article One Partners www.articleonepartners.com.

"I'll find prior art, any art, for $500!" pitch (with apologies to Earl Scheib)
Wow, that's an old reference...I remember it being "$49.95".
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Norm Gilman
Gilman Research Services, LLC

klaviernista

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Re: Patent Hitman - viable business idea?
« Reply #7 on: 03-17-10 at 05:35 am »

And klaviernista...you might be thinking about BountyQuest; bounties placed on troublesome patents and only paid if killer art is found.  There is a new spin on that model with Article One Partners www.articleonepartners.com.

That's the one!
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This post is not legal advice.  I am not your attorney.  You rely on anything I say at your own risk. If you want to reach me directly, send me a PM through the board.  I do not check the email associated with my profile often.
 



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