IBM Seeking 'Patent-Protection-Racket' Patent

theodp writes "Wikipedia defines a protection racket as an extortion scheme whereby a powerful non-governmental organization coerces businesses to pay protection money which allegedly serves to purchase the organization's 'protection' services against various external threats. Compare this to IBM's just-published patent application for 'Extracting Value from a Portfolio of Assets', which describes a process by which 'very large corporations' impress upon smaller businesses that paying for 'the protection of a large defensive patent portfolio' would be 'a prudent business decision' for them to make, 'just like purchasing a fire insurance policy.' Sounds like Fat Tony's been to Law School, eh? Time for IBM to put-their-money-where-their-patent-reform-mouth-is and deep-six this business method patent claim!"

Comments

I don't suppose anyone has considered

[Mahjub Sa'aden]

I don't suppose anyone has considered that they might use said patent to sue trolls out of existence. Which would be neat, and altogether too ironic.

Sweet

[Angst Badger]

I'm sorry, but this is beautiful. For IBM to patent the process of patent abuse raises legal sarcasm to a fine art form. This is a legal hack of the first order.

Whether it ought to be allowed or not is a different question, but it still brings tears to my eyes. ;)

Kudos to IBM

[xednieht]

Do realize ladies and gentlemen this is a bold and rather cavalier move on behalf of IBM. It's more tongue in cheek really, laughing at patent trolls and a majority of large corporations long bereft of the spirit of true competition.

It a rather elegant, subtle, and expensive way of inviting said patent trolls to "kiss my hairy ass". hehe

go go IBM

you can patent something like that?

[fontkick]

Patents like this are proof that America has too many lawyers and MBAs and not enough engineers. Or maybe I'm just nostalgic for the good 'ole days when patents actually had to be material... a new and novel application of a technology or product feature that was a result of, you know, actual WORK originated by the person/company submitting the patent. This patent is basically a patent on a business type. It's kind of like patenting the concept of a bank, whereby you erect a building with a "vault" that allows "customers" to "withdraw" and "deposit" money. The American patent system is starting to exist primarily to employ lawyers... patent everything (no matter how stupid or obvious), and sue everybody.