Dear Industry Colleagues,
Had we formed LOT Network in 2005, and if every operating company had joined that year, approximately 10,500 defendants in PAE litigations using acquired patents may have collectively avoided more than $100 billion in costs. These litigations have slowed the pace of innovation, increased prices to consumers, lowered returns to shareholders, and disrupted our best technologists and senior management from moving our technology and our national economies forward. Instead of spending valuable time doing innovative and productive work, our employees are frequently pulled into depositions and court defending our companies against patent lawsuits that often lack any merit. These litigations impede every aspect of our businesses. We owe it to our customers, employees, shareholders and our national economies to stop this abuse of the patent system. LOT Network is a step we can take together to reduce our PAE problem.