Former US House Judiciary Committee Chairman Bob Goodlatte argues that a lack of funding transparency fuels abusive litigation, ultimately discouraging new technological advances and driving up costs across the board, and that it’s time for Congress to rebalance patent litigation incentives and reduce abusive lawsuits that drag down America’s innovation economy.
A court filing has revealed that a GLS Capital affiliate and Law Finance Group are funding a patent infringement suit brought by Microspherix against Nexplanon, a contraceptive implant whose US sales were nearly 10% of Merck & Co. spinoff Organon & Co.’s 2022 revenue.
Sysco has sued affiliates of Burford for allegedly meddling in the food distributor’s efforts to settle several major antitrust cases in which it’s a plaintiff, while Burford argues that Sysco has breached the funding agreement by assigning some of the claims, giving Burford the right to veto the settlements.
The owner of PatentVest, an investment-bank backed patent shop turned law firm, has defended the firm’s alternative business structure, arguing that “a law firm owned by a venture capital group that is truly interested in driving innovation and bringing new technologies to the market is better than a firm owned solely by litigation funders”.
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