Gust Alleviates Patent Claim on Crowdfunding

Patent trolls have shaken down crowdfunding sites in the past, but David Rose, CEO of Gust, fought back and won.

A patent troll is a company that buys patent rights, then threatens to sue a company that is using certain technology that may or may not infringe on that patent.

In this case, rather than going to court and fighting the demand, nine crowdfunding companies paid to settle the putative claims.

However, Gust fought back and the court found that computer implementation of an abstract idea was not covered by the subject patent.

This decision makes the world a little safer for innovation and technology.
https://www.forbes.com/sites/groupthink/2017/05/04/using-courts-in-the-fight-against-patent-trolls/#3003698aeab7

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in accredited investor, balance, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, fraud, Funding Portals, Investments, Jobs, Legislative Intent, Small Business, technology, VC, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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