Blockchain Patent Holders Look to Dodge Trolls, Lawsuits
Partner Josh Krumholz, co-leader of the Holland & Knight Intellectual Property Group, commented on blockchain patents in an article by Bloomberg Law.
Industry professionals are concerned that the surging number of blockchain experiments and related patent applications across various industries present ripe opportunities for "trolls"—patent assertion entities who could hamper innovation if not properly contained. Thus, many startups and technological leaders, like IBM Corp and Alphabet Inc.'s Google, are increasingly coordinating to uncover solutions and experimenting with preventative measures to ward off these patent trolls and possible infringement lawsuits that plagued technology revolutions in the past.
"You're seeing a much more aggressive effort of a nascent industry to create [blockchain patent] pools and a pool environment," stated Mr. Krumholz. "It's unsurprising to me because they're obviously taking lessons from other industries like telecom."