Joe Mullin is down in an East Texas court room, covering all the details of a
key patent lawsuit, pitting the world's most litigious patent troll, Erich
Spangenberg, against well-known electronics retailer, Newegg, a company that
has vowed never to settle with patent trolls -- a strategy that has been quite
successful so far. Spangenberg is infamous for his "sue first, license later"
approach to patent trolling, but the details revealed during the lawsuit show
how profitable it is. Spangenberg has sued a ton of companies over this very
patent -- with nearly all of them settling for much less than it would cost to
fight a patent suit in court (fighting is estimated to cost upwards of $1 to
$2 million). Nearly all the settlements are for much less:
> _ Target had a website; Target got sued by TQP. It got out of the case by
Some paid less than that--but most paid more.
Dodge & Cox, a mutual fund, paid a bit more than $25,000. Pentagon Credit
Union paid $65,000. QVC paid $75,000. MLB Advanced Media paid $85,000.
PetSmart paid $150,000. PMC paid $400,000. Cigna paid $425,000. Bank of
America paid ...