Patent trolls–or, as a new study drolly dubs them, “non-practicing entities”–have a business model that’s simple, elegant, and dastardly: Buy broad patents and start suing companies that could conceivably be infringing upon them. And the costs are adding up to a nice chunk of change: Two researchers estimate the costs at no fewer than $29 billion, reports Ars Technica.
Plus, that’s just direct costs for things like lawyer bills and licensing fees. A previous study by the same pair put indirect costs at the stratospheric tab of $83 billion. Read More