Solomon Arranges Patent Litigation Financing

Let's see: 40% of the take or just their costs. I'd go for that deal too, if a firm grip on my client's bank accounts assured me I'd get my money.

If they are afficianados of prior art and know what they are doing Toyota may be in trouble, but either way they get paid...

 

The more interesting question is, who's going to pay the rent throughout the course of the litigation? The company doesn't appear to have enough cash to cover its operating expenses.

 

I suggest Toyota settle now and pay a substantial royalty on every boat equipped with HSD that they have ever sold.

Apparently, that's what Solomon has a patent on.

Nate

 

I say Toyota should just ask one of their dealers to give them some free office space.

 

So it appears Oliver Street Finance LLC has agreed to pay all legal costs associated with the Solomon v Toyota lawsuit.

Michael A. D'Amelio, a member of Solomon's board, is affiliated with Oliver Street Finance LLC.

Convenient!

It's not like Solomon has anything to lose:

http://finance.yahoo.com/q/is?s=solm.ob

A quick search for Oliver Street Finance LLC didn't uncover much. Must be a privately held co.

 

Good God! Their GROSS revenue for the three month period ending 9/30/05 was $4k!

3 months and a total of 4 thousand bucks in gross revenue? Why does anyone there bother to show up at work? What the heck? Shouldn't they be having SALES meetings rather than SUE meetings?

 

Did it ever occur to you that their revenue prospects from suing are higher than from selling?

When I start reading some news of this opportunistic lawsuit in the legitimate media, as opposed to in press releases issued by the plaintiff, I may start paying attention to this non news event.

 

Well, yes, that's patently obvious (no pun, er, whatever) from their financials. But trying to generate revenue to stay afloat from, of all things, IP litigation is absurd.

I mean, they'd be better off suing their landlord claiming ceiling tiles fell on their execs (they could manufacture this merely by removing the tiles, punching large holes in the center of each, placing a tile over the heads of a few execs, and then calling 911) or having their execs wait in the likes of a Safeway or Walmart for the pimple-faced kid to mop the floor and then, when no one is looking, pick a nice, big wet spot in which to lie down. They'd certainly get a faster, albeit smaller, settlement......."I guarantee".

 

Toyota has deeper pockets than the landlord. In case you forgot, this is a British company suing a Japanese corporation in Germany, of all places. Smacks of forum shopping.

 

A British company filing suit in Germany? What's all this then?:

Solomon brought suit against Toyota Motor Corporation, Toyota Motor Sales U.S.A. Inc. and Toyota Motor Manufacturing North America in the United States District Court for the Middle District of Florida, Tampa Division, on September 12, 2005, claiming infringement of a number of claims in Solomon's patent number 5,067,932, primarily relating to Toyota's use of the technology in its Prius and Highlander Hybrid vehicles.

Re "deeper pockets", that just means the ability to hire more and better lawyers to me. :lol:

 

Sorry, I got it confused with this lawsuit:

Antonov announces Toyota patent infringement litigation update

 

What is the World Record for Most Infringements Of Different Patents By One End Product?...

 

with apologies to Pres. Roosevelt:
"They have nothing to lose but loss itself!"

Looks like one of those "shell" companies that merely acts as a way to pipe your losses from some other company/holding. And if they can assign their IP to this company and get it profitable somehow, great! If not, then it goes bye bye, no big loss (again, other than loss itself!)

 

If you REALLY want to clean up, Shell Co's are the way to go. If you make it, you clean up. If you lose and go bust ... you clean up. Somebody else pays for the loss, either folks duped into buying the shares, or the taxpayer.

Worked for Enron, might work for them too.

 

Really, for God's sake! I think the moment a company develops and markets an innovative and profitable product, scavenger services show up and start banging down the doors.

Not saying these companies fall within the parameters outlined above, but the likes of Intel, Apple, Microsoft, and Sony have been prime targets, some claims were warranted and a lot, well, weren't.

One of the goofier examples that comes to mind involves the electronic trading platform developed by the Chicago Mercantile Exchange. After its success went well beyond anyone's expectations, some nice lady claimed she had "developed" a similar platform and, like Solomon, started looking to get paid. Of course, she did have something "on file" with the USPTO but, as it turned out, was not much more than an 8 1/2 x 11 sheet of paper stating something on the order of, '...a trading platform using a centralized computer for trading futures contracts where buyers are matched with sellers and vice versa...'. Sheesh!

 

Solomon Files ITC Complaint Against Toyota

TARPON SPRINGS, Fla., Jan. 11, 2006 (PRIMEZONE) -- Solomon Technologies, Inc. (OTCBB:SOLM) announced today that it has expanded its litigation against Toyota by filing a complaint with the United States International Trade Commission (ITC) in Washington D.C. This action is in addition to the action already filed in the United States District Court for the Middle District of Florida. The ITC acts as an administrative investigative body to determine, among other things, whether or not goods imported into the United States infringe U.S. patents.

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