(SLB, 24.Jan.2024) — SLB has joined other technology leaders such as Tesla, Microsoft, and Cisco to become part of the world’s largest patent licensing platform, the License on Transfer (LOT) Network. LOT is an international, non-profit community of more than 3,300 leading global companies across all sectors that are committed to protecting themselves against costly litigation from patent assertions.
As a global technology leader driving energy innovation, SLB shares LOT’s goal of protecting innovators and inventors from patent litigation by entities that merely acquire patents to litigate rather than to innovate. These entities are often referred to as patent trolls.
“In teaming up with the LOT Network, SLB is taking a leading position in our industry to maintain our freedom to operate and further minimize our legal risk,” said Dianne Ralston, Chief Legal Officer, SLB. “This allows us to focus on what matters most: creating solutions for our clients and the world that drive change.
Insuring the development of cutting-edge technologies
By joining LOT, SLB will be immune to many potential claims from patent trolls while still retaining all the traditional uses of patents, including resale, transfer, participation in patent pools, licensing, and assertion.
“SLB has demonstrated that they put a high priority on protecting the patent system,” said John Brosnan, SVP, LOT Network. “By joining LOT, SLB will substantially reduce its patent litigation risk while also demonstrating clear market leadership. We fully expect others in the sector to follow.”
With years of research and development in the energy industry, SLB believes in the value of protecting our intellectual property for today’s innovations and those to come. SLB currently has more than 18,000 active patent assets globally.
“As a leading technology developer, it is crucial that SLB protects its ideas and maintains its freedom to operate,” said Demosthenis Pafitis, SLB Chief Technology Officer. “By joining the LOT Network, we are teaming up with other leading tech companies to protect ourselves against the threat of so-called patent trolls.”
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