In the beginning of August, Honda has proved to be the newest car manufacturer to be part of the LOT of License on Transfer Network, as it succeeds the previous action taken by General Motors when it joined in the previous month. Honda and General Motors are just two of the other car manufacturers that have joined the network, as Hyundai, Ford, and Uber have also joined the group before the two companies did.
Based on the statement issued by Ken Seddon, the CEO of LOT Networks, the industry has now evolved into becoming increasingly conscious of the important of intellectual properties as it now uses patents to reduce the possibility of issues in relation to the new technologies and processes that companies might develop over the new few years.
Carlos Herrera, the GM Chief Intellectual Property Counsel also states that the company has already placed an importance on the use of patents to give security to its innovations. However, the further issues and problems have caused them to join forces with other brands with the help of the LOT.
Herrera tells Fortune in an email: "GM's involvement in LOT demonstrates a proactive commitment to becoming vulnerable to patent assertion entities that may detract from our ability to push innovation and better products forward." Ford is the first car manufacturing company that has joined LOT in 2015.
Coughlin says, "As a leader in innovation, Ford takes the protection and licensing of patents very seriously and joining the LOT Network was one prong of Ford's multi-prong defensive strategy against unreasonable patent assertion entities."
He also adds: "We are proud to have paved the way for other automotive OEMs and suppliers to join the network and help keep auto-related patents out of the hands of those driven primarily by greed."
Trolling cases prove to be a danger to most companies, especially in the patent cases of major tech companies. One of the examples is when Apple needs to pay $625 for the patents relating to FaceTime and messaging services.
The issue is scheduled for a new and upcoming trial.