Unified Patents Introduces New Startup Membership Tier with Cost-Effective Patent Insurance
Unified's New Secured Logo program is the first to help companies deter trolls from approaching Unified members in the first place. Protect allows startups to receive membership with patent troll insurance for under $100 a month, the lowest-cost option available anywhere.
San Jose, CA, October 7, 2015 – Unified Patents, Inc. ("Unified"), the only deterrence-based solution to the problem of Non-Practicing Entity (NPE or "patent troll") activity, today announced the launch of two new programs tailored to startups: Secured by Unified and Protect: Membership with Insurance. Together, these innovative products reduce emerging technology companies' risk of being targeted by costly patent litigation.
The first-of-its-kind Secured by Unified logo program lets any Unified member include a logo on its homepage indicating it is a Unified Patents member, and is thereby protected by Unified's unique patent assertion deterrence services. And with Protect: Membership with Insurance, Unified now offers a new membership tier for companies earning annual revenues under $20 million that provides many of the benefits of Unified's full membership at a fraction of the cost—and, most importantly, includes the world's least expensive patent litigation insurance.
"Secured by Unified provides a smart solution for startups that have been lacking an efficient, effective and affordable way to deter against frivolous litigation from patent trolls," said Application Developers Alliance Acting President Jake Ward. "We hope this new program sends a loud and clear warning to NPEs that asserting dubious patents in Unified's protected zones comes with enormous potential downside, and that they should think twice before bringing a lawsuit."
The Protect: Membership with Insurance program includes Unified Patents membership and patent insurance for just $995 annually to companies generating up to $20 million in revenue—80% less than any comparable product. The insurance provided by Protect covers pre-litigation and litigation dispute costs; it does not cover settlements costs, consistent with Unified's policy of never paying NPEs so as not to fund them and encourage additional future litigation.
"It's about time affordable patent insurance was made available to early-stage tech companies, who in many ways have the most to lose. I joined Protect not only to reduce costs should my company be sued by a troll, but also to reduce the chance of that ever happening in the first place," said John Ashbaugh, CEO of Xorbia Tickets (www.xorbia.com). "Having this solid new tool in my toolbox gives me confidence that the company I've worked so hard to build won't be derailed by an NPE looking to make a quick buck."
NPEs remain a significant risk for startups. Recent studies by RPX Corporation show that 60% of companies sued by NPEs have annual revenues of less than $100 million. A study by Professor Robin Feldman of the University of California, Hastings College of Law, revealed that 100% of venture capitalists consider ongoing or threatened patent litigation a major investment deterrent. Roughly one in three technology startups will receive at least one "demand" letter stating that it owes licensing fees for alleged use of a patented technology. In most cases, startups are targeted as part of larger campaigns that may include dozens of lawsuits. Collectively, this research demonstrates that newer companies are often targeted by NPEs seeking fast and easy settlements, since few startups can afford exorbitant legal costs.
We invite startups to join Unified's fast-growing membership to reap the benefits of true patent troll deterrence and feel secure in the knowledge that none of Unified's resources will ever reward such activities. For more information on Protect, please visit www.unifiedpatents.com/protect. Current members may obtain the Secured by Unified logo at www.unifiedpatents.com/secure .
About Unified Patents Inc.
Unified Patents Inc. was founded in 2012 to give operating companies an alternative means to deter NPE patent litigation. Unified addresses the risk of NPE litigation by strategically protecting areas of technology, such as Cloud Storage, Content Delivery, Wireless, Automotive, and Electronic Payments. Unified's unique solution draws on the shared need of large companies, SMEs and startups to proactively deter NPE activity together. Among the services provided by Unified are patent transaction reports, NPE and litigation monitoring, prior art searches, and invalidity analysis. For more information about Unified or to inquire about becoming a member of one or more of its Zones, visit www.unifiedpatents.com.
Zumado Public Relations
Nick Gaffney, 415-732-7801