The Cryptocurrency Open Patent Alliance (COPA) has joined forces with Unified Patents to guard the crypto group from patent trolls, launching a brand new Blockchain Zone aimed toward difficult patents held by non-practicing entities (NPEs) that might threaten the open-source ecosystem.
In line with Unified Patents, this initiative seeks to discourage NPE exercise within the crypto sector, the place such entities account for 58% of all US patent litigation.
Paul Grewal, Chief Authorized Officer at Coinbase and a member of COPA, emphasised the importance of this collaboration, saying:
“Patent trolls are limitations within the path of innovation; they hinder the progress of expertise and stifle the spirit of creativity, notably within the fast-evolving world of cryptocurrency. They have to be stopped in order that the group can proceed to do the vital enterprise of constructing the crypto-economy.”
The partnership provides COPA members pass-through safety without charge, enhancing their capacity to innovate with out the looming menace of unwarranted litigation. Steve Lee, Lead at Spiral — a subsidiary of Block and one other COPA member — mentioned:
“COPA has fought lengthy and laborious to scale back limitations to crypto innovation, together with its efforts to debunk false IP claims associated to Satoshi Nakamoto’s id, which have plagued the Bitcoin group. Now, we take COPA’s work a step additional to guard the crypto group from patent trolls.”
Unified Patents’ current Transactions Zone has already challenged a whole bunch of patents that threatened associated applied sciences. The newly established Blockchain Zone will prolong these efforts to the blockchain trade, making certain that blockchain applied sciences stay open and free from baseless assertions.
In March, the UK Excessive Courtroom dominated in opposition to Craig Wright in a case introduced by COPA, declaring that he’s not Satoshi Nakamoto and didn’t create Bitcoin.
Justice Mellor discovered that Wright had “lied to the Courtroom extensively and repeatedly” and engaged in “the deliberate manufacturing of false paperwork to help false claims.” The choice undermined a number of of Wright’s different authorized claims that relied on his asserted id as Bitcoin’s creator.
By becoming a member of over 300 firms dedicated to deterring invalid patent assertions by NPEs, COPA and Unified Patents goal to foster an atmosphere the place builders can innovate freely. Unified Patents stays the one entity that deters invalid patent assertions with out ever paying NPEs, thereby avoiding incentivizing additional NPE exercise.
Kevin Jakel, founder and CEO of Unified Patents, expressed optimism in regards to the partnership, stating:
“We’re joyful to companion with COPA to carry our distinctive answer to the blockchain group. It represents an exquisite alternative to make sure that the expertise stays free to develop companies, cut back transaction prices, and ensures it received’t be hindered by the all-too-common baseless patent assertions affecting different sectors of the financial system.”
The collaboration between COPA and Unified Patents represents a proactive method to safeguarding innovation inside the trade. By difficult questionable patents and deterring patent trolls, they search to make sure that blockchain expertise can develop unimpeded, benefiting all the crypto group.
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