I developed and received an international patent for a blockchain technology.
Then I was sued over two years. Fraudulent and frivolous was what the judge ruled, allowing me to go to a trial by jury and attempt to receive some kind of compensation for my losses - but that meant 2 more years in court and more wasted resources.
Here is a link to the technology and how it will be viral globally.
Not sure why it didn't create a "blue link," so please copy and paste.
And here is a link to the 800-pound, now gang of gorillas who left the US to usurp the SEC in a successful effort to create a monopoly in the US from outside the US, as only Goldman Sachs could do, right?
I have been blackballed and am looking to launch a blockchain platform from a different country.
I am on an international tour as of October and I am and have been attending major Blockchain events in places like Lisbon, Portugal, Malaga, Spain, Barcelona, Spain and now I am in Bangkok, Thailand and making my way through to Malaysia, Singapore, Cambodia, Vietnam and perhaps head to South Korea after the first of the year.
While resources are ALWAYS an issue for a self-funded startup I am not looking for typical VC investment although private placement is fine blockchain for those who don't kow does not require one to OWN any majority "shares," as anyone who is in a founders position simply receives Founder Tokens or coins and as the token launches, say at a fraction of one cent and as transactions begin to take place on the platform value increases and this is where the payoff comes from.
I can "give away," the technology to any one willing to underwrite the platform's launch as this is an "All Boats Rise," formula.
We are no longer in the - must maintain 51% ownership world. Blockchain changes that equation drastically.
Any actionable advice would be greatly appreciated.
The only non-rhetorical question in your post is the headline asking for other's opinion if being sued validates you. Were you asking for actionable advice on someone's opinion of that? Not sure what you are asking here.
Are you asking if its questionable for someone to usurps the SEC by working outside the US? Like Lisbon, Portugal, Malaga, Spain, Barcelona, Spain, etc?
As far as your actual question, Paul is right. You don't have to have done anything wrong to be sued and your idea does not have to be good. Legitimate or not, does not matter. If someone with big pockets doesn't want a competing product on the market, even if it doesn't infringe on their IP, they can bleed you dry in court regardless, as a strategy. Even if they just want to send the message to other would be's that they will squash the competition. That's business. I'm dealing with something similar right now myself.
Another thing to add is that getting a patent does not confirm regulatory compliance or legal compliance in the jurisdiction(s) you operate. As well as a patent does not confirm what you actually bring to market doesn't infringe on someone else's IP. Just your IP doesn't. But even then, like in my case, the IPR process can snatch the claims in your granted patent right out from under you.
No. Lawsuits don't validate your product. And a patent doesn't validate your product either. There's no requirement that a patent be useful.
It's your obligation to defend your patent, so you can expect that for the duration you will continue to have lawsuits, frivolous or not. That's the "hidden" expense of patent protection. If you don't defend, you lose your patent. And you're obligated to go out and look for people who are infringing and sue them too.
I really don't see what the basis for complaint is here.
No one can predict viral expansion. Claiming that something will 'go viral' typically shows ego and not understanding.
I doubt you have been blackballed, although you may have irritated some people who wish they didn't have to deal with your IP. That's no different than anyone else getting to market first or having better advertising or having more sales volume, etc. That's business.
Paul I appreciate your feedback, but as I read the post again, it is not clear to me where you identified a complaint.
I was stating facts so others would have a clear picture of the events that have taken place to keep this tech from seeing the light of day.
Although, complaining about being sued for developing a disruptive technology is likely warranted that was not my intent.
As my conclusion states I'm looking for actionable advice, but appreciate your opinion.
I see you have four startups under your belt, ever been sued?
And did you take the time to look at the 90-second video... a live chat button is by its' very nature viral, this is no different. And any company charging 7,000 - 10,000.00 a day for something you can get for 71.00 dollars would seem to me to be sort of blatant in terms of protecting a corrupt business model.
But again, your opinion is appreciated.
It is the world we live in isn't it. Lawsuits as a common practice to send a message to a highly fragmented private industry that it will remain so.
Regarding the point about usurping the SEC that is what happened and it essentially states it in the article I shared. Freeman and PSAV the two largest companies in the US had already been denied a merger for monoply reasons and so they relocated a small subsidiary of Freeman to Australia and then relocated there on paper to do the deal whereby Goldman Sachs and Blackstone aquired them.
Life's not fair and I wasn't asking anyone to make it so, I was looking for whether or not disclosing to potential investors that I was sued is that something I should withhold or disclose and why, meaning is it a positive or a negative when looking for investors.
I am getting the sense that I HAVE TO disclose it up front and that it is a negative...
So if that is the case then not only did they succeed at bleeding me dry, but they also hung an albatross around my neck, effectively blackballing me from the US market - at least in my opinion.
For me it is like Yellow Cab sued Uber before they ever got their first investor and then just ground them into dust before they could launch.
And so I was looking for confirmation and then any actionable steps I might take, like finding their international nemesis, etc.
I agree patents aren't worth the paper they are written on unless you can defend them and speed to market and execution are far more inportant in my view so I was just looking for any action I might take to retrench and make another effort at an international launch.
Ultimately I find this an accurate but sad commentary on the state of affairs in our business world today. Having said that there is nothing new under the sun and life ain't fair.
Sorry to hear you're going through the same BS.