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Patent Troll Values Its Entire Portfolio At $2, Goes Bankrupt (arstechnica.com)
mspohr shares a report from Ars Technica: In September 2018, Shipping & Transit LLC (formerly known as ArrivalStar) filed for Chapter 7 bankruptcy -- voluntary liquidation -- but no one seems to have noticed until the Electronic Frontier Foundation pointed it out on October 31. The company claimed that it held the patent on vehicle tracking and related alerts. But about 15 months ago, judges began to rule against Shipping & Transit for the first time. That seems to have put a damper on its entire business model.
Now, according to Shipping & Transit LLC's federal bankruptcy filings, its global patent holdings (34 in the United States and 29 elsewhere) are worth a whopping $2. Meanwhile, it owes more than $423,000 to numerous creditors, including banks, law firms, and something called the "West African Investment Trust," based in Geneva, Switzerland.
Now, according to Shipping & Transit LLC's federal bankruptcy filings, its global patent holdings (34 in the United States and 29 elsewhere) are worth a whopping $2. Meanwhile, it owes more than $423,000 to numerous creditors, including banks, law firms, and something called the "West African Investment Trust," based in Geneva, Switzerland.
I believe and "Womp Womp" is in order?
"how to make it not profitable" - we could yell at them in restaurants, I hear that is terrifying and is as bad as being sent a bomb.
Because it takes a patent troll to scam a Nigerian prince.
One patent troll gone. Good riddance. How many more to go?
The problem with patent trolls is that you cannot win against them.
As for assets, how many people work for this company, and (Zim voice) do they have all of their organs?