Well lookie here, this is the first time I’ve seen something like this. Law firms frequently market their experience with patent trolls and frivolous, nefarious patent litigation in general, but Jones Day puts on their Big Boy Pants and goes right after Intellectual Ventures by name. I’m not prone to the use of foul language (all that Ivory soap in my mouth as a kid cured me of that…thanks, Mom!), but dayum.
From the article,
Jones Day has significant experience litigating against IV, and we are currently representing a major bank in one of the lead patent suits filed by IV in its assault on the banking industry.
Love it. “Assault on the banking industry”, indeed. They also warn of the future, indicating that they expect another wave of demand letters is about to go out:
IV has also sent pre-suit notices to additional banks, and in view of the monetization strategies IV has employed in the past, we expect that this first wave of enforcement activities against financial institutions is part of a broader enforcement effort against the entire banking sector.
As an aside, are we now calling patent demand letters “pre-suit notices”? This industry’s propensity towards euphemisms is admirable. Personally, the term I like best is “nastygram”, but let’s not split hairs. A shake-down notice is a shake-down notice no matter what you call it. I’m pretty sure that line is in a Shakespeare play but if not, it certainly ought to be.
What’s frightening is how long IV sat on their stash and claimed they were just “helping innovators” and “furthering the field of science” by amassing all those patents. No one believed you, IV.
IV has a history of aggregating a significant number of patents relating to a particular industry and then initiating aggressive litigation and licensing efforts against companies in that industry. IV has sufficient size and substantial resources to pursue its enforcement campaign and poses a considerable economic threat to its target industries, including financial services.
IV may have sufficient size and substantial resources, but Jones Day’s not exactly a shrinking violet. I don’t have the AMLaw 100 memorized anymore since I’m not working at a law firm, but aren’t they, like, somewhere near the top? They’re not exactly a firm to trifle with, is what I’m saying.
And what they seem to be saying, right out there in front of God and everybody, is this:
Intellectual Ventures? Game on.
(With a very special thank you and shout out to my friend and colleague who alerted me of this!)