Dallas Intellectual Property Advisory Firm Calls for Establishment of New National Standards in Patent Licensing and Litigation
Dallas, TX (PRWEB) June 03, 2014 -- Dominion Harbor Group, LLC today announced enhanced operating procedures in its transformative approach to managing, investing and litigating in the intellectual property rights sector. Dominion Harbor Group was established in late 2013 by a group of leading patent legal, technology and investment professionals with a philosophy of building a firm based on an alternative, rational approach for value determination in the increasingly complex intellectual property marketplace.
Dominion Harbor Group Chief Executive and Co-founder David Pridham said, “From the outset, our firm has opposed patent litigation abuse, and as a result of passage of overly restrictive federal legislation in 2011 and following recent failed congressional reform attempts, we hope that interested parties, licensors, licensees and their respective representatives will join us in this fresh and rational ‘self-regulatory’ standards creation-approach to licensing and -- when necessary -- litigating intellectual property rights.“
Pridham adds, “Our firm is boldly taking first steps to bring efficiencies to patent licensing. If our proposed operating parameters are not adopted, over-regulation by Congress could occur and the start-up ecosystem will be harmed and many protections removed that inventers have relied on for more than two hundred years.”
Dominion Harbor Group’s approach is outlined in A Proposal to Achieve Meaningful Patent Reform http://dominionharbor.com/DHG-Proposal.pdf In it, the firm proposes taking certain steps in tandem with its clients to implement a number of guiding principles, and challenges opposing parties agree to this new rational approach. Dominion Harbor Group’s operating protocols include elements such as not representing clients that send serial demand letters (pre-filing letters) in the hopes of extracting “cost of defense” settlements and questionable infringement claims.
Dominion Harbor Group will only work with clients that agree to provide clear, concise and detailed disclosure regarding their claims early in the process resulting in clearer patent pleadings.
Other elements of the proposal include seeking litigation efficiencies through court filings and venue selections; creating a revenue threshold for licensing so as to not pursue a case where the alleged-infringing company has less than $25 million in annual revenue; and, supports fee shifting that punishes any party engaging in litigation abuse.
Pridham concluded, “Dominion Harbor Group believes strongly in its business model and the new paradigm outlined in our proposal, and invites all parties on both sides of patent disputes to follow our lead to establish a national standard in patent licensing and litigation. Adopting these steps will greatly increase efficiency and reduce transaction costs.”
About Dominion Harbor Group – A Rational Actor in a Complex Intellectual Property Marketplace
Dominion Harbor Group was founded in 2013 by seasoned legal, technical, engineering and financial professionals dedicated to the premise that patents are a sacrosanct and critical component of the United States and global commercial marketplaces. The firm’s highly specialized, talented team manages, helps protect and preserve intellectual property portfolios, maximizes values of patent portfolios through licensing, helps enforce and defend clients’ critical intellectual property rights, and advises owners and investors in realizing appropriate value for innovations and risk taking in the patent market.
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Brooke Barnhill, Dominion Harbor Group, LLC, http://dominionharbor.com/, (512) 344-2604, [email protected]
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