UF/Sid Martin Biotechnology Institute Offers Resident Companies Patent Action Program to Stop Patent Trolls
Gainesville, FL, October 17, 2017 (Newswire.com) - Sid Martin Biotechnology Institute, the leading biotechnology incubator at the University of Florida, announces a new complimentary service for its resident companies developed by Patent Action Forecast, a national legal analytics company. The comprehensive 3-part service will help the Institute’s resident companies avoid patent trolls and protect their intellectual property while reducing certain legal fees by 70-90%.
Startups commercializing patented technology can be targeted by patent trolls, companies that obtain patents in an attempt to profit through licensing or litigation without ever producing their own goods or services.
The entire patent troll or bio-bully business model relies on startups of all sizes 'crying uncle' just to get the legal fees to stop. Now, there is a cost-effective and advantageous way to counter these threats, freeing small companies to focus on bringing innovative products and services to market successfully and competitively."
Jordan Williams, Chief Executive Officer, Patent Action Forecast
Patent Action Forecast
The Patent Action program being provided as a complimentary service by Sid Martin Biotech Institute, includes three key services:
1. Free Automatic Litigation Watch & Rapid Response for all resident companies:
Patent Action Forecast monitors all U.S. courts and keeps members informed of any impending lawsuit weeks ahead of time. This allows additional, valuable time to prepare a better defense.
2. Free Membership with Unified Patents, The Anti Patent-Troll:
Unified Patents works to invalidate patents used by patent trolls, thereby protecting its members against frivolous and costly lawsuits.
3. Patent Action Forecast Reports, discounted 50%.
The comprehensive reports cover both patent demands and patent lawsuits.
The Bio-Bully Business Model
During an introduction of the program to some of Sid Martin’s resident companies Patent Action Forecast CEO Jordan Williams, explained, "Patent legal advice is so complicated and expensive that when your company gets a patent threat, it often costs more than $20,000 for an attorney just to collect the basic facts. With new advances in data analytics and machine learning developed by Patent Action Forecast, the preliminary legal work can be accomplished for one-tenth of the cost.”
Williams further noted, "The entire patent troll or bio-bully business model relies on startups of all sizes ‘crying uncle' just to get the legal fees to stop. Now, there is a cost-effective and advantageous way to counter these threats, freeing small companies to focus on bringing innovative products and services to market successfully and competitively.”
Mark S. Long, Director of the Sid Martin Biotechnology Institute, said, “This program provides our companies with a substantive tool to pro-actively protect their Intellectual Property. We are extremely pleased to offer this for our resident clients.”
About Patent Action Forecast
Patent Action Forecast is a tool for analyzing legal demand letters, complaints, and understanding the overall issues of patent disputes. The company is wholly owned by Velites Consulting Group, a Washington State corporation. Velites Consulting Group services include claim charting, portfolio mining, licensee finding and research on litigation trends and outcomes. Patent Action Forecast and Unified Patents, a patent troll deterrent company, have formed a strategic partnership to help end predatory litigation and provide a more comprehensive suite of services to clients. For more information, visit patentactionforecast.com.
About Sid Martin Biotechnology Institute at the University of Florida
The Sid Martin Biotechnology Institute is the leading biotechnology incubator headquartered at the University of Florida in Alachua, Florida at Progress Park. The Institute has been honored with national and international awards for incubator excellence and achievements in technology commercialization, funding access, job creation and technology-based economic development. It is dedicated to mentoring and accelerating the growth of innovative early-stage bioscience and biotechnology companies, and supporting the economic growth of the North Central Florida region. For more information, visit. SidMartinBio.com.
Contacts:
Jordan Williams, Chief Executive Officer, Patent Action Forecast, 509-953-1815, info@patentactionforecast.com
Merrie Shaw, Assistant Director, Sid Martin Biotechnology Institute, 386-462-0880, mashaw@ufl.edu
Source: UF/Sid Martin Biotechnology Institute