Circle joins the LOT Network to protect it from patent litigation

According to reports, stable currency issuer Circle has joined the LOT Network, a non-profit organization that aims to prevent patent hooligans, to protect it from patent lawsuits.

Interpretation of this information:

Stable currency issuer, Circle, has become a member of LOT Network in a bid to protect itself from patent lawsuits. LOT Network is a non-profit organization that seeks to eliminate the risks of so-called ‘patent trolls’ who target companies with legal action over their use of patented technology. This partnership is a move by Circle to secure its position in the fast-paced and competitive fintech industry by avoiding any potential legal battles.

Patent trolls, also known as patent assertion entities (PAEs), are firms that buy dormant patents and use them as leverage to extract money from companies they claim are infringing on their rights. They target small enterprises, start-ups and companies on the verge of a breakthrough, as these businesses are often unable to finance an expensive legal defense. Patent trolls can be incredibly harmful to businesses as they can result in expensive legal battles, settlements, and a negative impact on brand reputation.

LOT Network was founded by tech giants like Google, Canon, and IBM as a tool to protect small businesses and start-ups from PAEs. They offer an agreement to members that shares the risk of patent trolls by allowing any member of the network to use any of the patents of another member in the network without incurring any legal action. By joining the network, Circle has added several thousand licenses to their intellectual property portfolio and can now use the tools of other member companies to counter any frivolous legal challenges that come their way.

Circle has been a major player in promoting the mainstream adoption of stablecoins and blockchain technology. Stablecoins are cryptocurrencies that work to minimize volatility by pegging their value to a stable asset, such as gold or the US dollar. This partnership with LOT Network shows that Circle is committed to growth, innovation and protection from patent trolls. It sends a clear message to the patent trolling industry, that Circle won’t stand for any attempted legal exploitation of their competitive position in the market.

The three keywords that summarize this content are stable currency issuer, LOT Network, and patent trolls.