OneTrust partners with LOT Network to advance and safeguard open innovation

LOT Network is a worldwide, non-profit community of firms that are working together to protect themselves against litigation brought on by patent assertion entities (PAEs, sometimes known as “patent trolls”). Today, OneTrust, the market-defining leader for trust intelligence, made the announcement that it has joined LOT Network. With the intention of enabling OneTrust to protect the interests of the Company against patent claim entities, OneTrust has joined the community of more than 3,700 firms that are part of the LOT (License on Transfer) Network. Among these companies are eight of the top cloud providers now operating in the globe.

When it comes to protecting members from costly and needless PAE litigation, the LOT Network community is committed to doing everything in its power to protect them. A consensus has been reached among all of the members that in the event that a patent asset that belongs to a member is bought by a PAE, other members will be granted a license to that patent. This license will protect them against a PAE lawsuit that makes use of the property in question. In light of the fact that the number of intellectual property rights lawsuits filed by patent trolls has increased by 500% over the past decade1, that the average lawsuit costs almost $4 million to defend, and that about 87 percent of patent assets used in PAE lawsuits originate from operating companies2, the coverage of 4 million patent assets worldwide by LOT Network offers member companies broad protection and peace of mind.

At this time, OneTrust is pleased to announce that approximately three hundred patents and nearly one hundred patent applications have been incorporated into the protection of LOT Network. These patents and applications cover a wide variety of technologies that fall under the category of privacy management. These technologies include assessment automation, data mapping, and privacy rights automation. This shields LOT Network members from PAE assertions of those patents and promotes open innovation across the industry. The patents encompassed by LOT Network represent an extensive array of technologies, such as artificial intelligence, the Internet of Things, the Metaverse, and cloud computing. LOT Network members, which include Google, IBM, and Microsoft, are located in 56 countries worldwide.

“It is crucial that we take this proactive measure to safeguard ourselves and our business, as OneTrust’s mission is to prioritize trust,” stated Kim Rivera, Chief Legal & Business Affairs Officer. “By enrolling in LOT Network, we are becoming a part of an alliance with other organizations that share our commitment to safeguarding the conventional applications of patents while promoting forward-thinking, open innovation.” With any luck, our action will encourage additional businesses to join LOT Network and assist in mitigating the damage caused by patent fraud litigation and assertions in every technology sector.

Ken Seddon, CEO of LOT Network, remarked, “The proliferation of PAE lawsuits annually costs companies millions in litigation expenses and has a tangible effect on business operations.” “By joining LOT Network, OneTrust demonstrates its dedication to safeguarding its business ecosystem and preserving capital for genuine innovation investments.”