Ever since Jay Walker founded Walker Digital in 1994, the company has made its fortune by spinning ideas like Priceline out into companies. But in a profile today, the Wall Street Journal reports that Mr. Walker’s new money-making strategy seems to be filing lawsuits.
Last year, the Stamford, Connecticut-based company put its patent portfolio up for auction. But although a bid was made for $135 million for ideas like “managing identities and connecting with friends online” (circa 1996) it didn’t meet Mr. Walker’s minimum.
So instead, he resorted to teaming up with IP Navigation Group, which describes itself as a “patent monetization” firm. As FOSS Patents recently pointed out, others describe the IP Navigation Group and its affiliates a little differently. Law.com, for example, says owner Erich Spangenberg runs one of the “largest, and most litigious, patent-holding companies” and recommends a “sue first, ask questions later” approach. Read More