COPA, an encryption advocacy organization, has partnered with Unified Patents to launch the Blockchain Zone initiative to combat Block chain patent trolls.

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2024-10-02 02:13:28

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Cryptocurrency advocacy organization Cryptocurrency Open Patent Alliance (COPA) and patent-focused organization Unified Patents announced the launch of the “Blockchain Zone”, an initiative aimed at patents controlled by non-practicing entities (NPEs), covering a range of technologies including Non-fungible Tokens, Wallets, Smart Contracts, etc. COPA said the partnership aims to protect blockchain companies and developers from baseless and costly legal claims by patent trolls, who exploit high litigation costs to negotiate settlements. These entities profit by licensing patents or suing those who use patents without permission, but they themselves typically do not use the patents. According to data from Unified Patents, these entities accounted for 58% of all patent litigation in the United States last year, with 95% of the time targeting technology companies. (Cointelegraph)

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