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Hon Hai Technology Group , the world’s largest technology manufacturing platform service company, announced that it has officially joined the LOT Network ( License on Transfer, LOT ), a global patent licensing platform and non-profit community dedicated to protecting companies from Patent Assertion Entities (PAEs ) lawsuits. Foxconn will become one of the important partners of LOT Network , a powerful network consisting of more than 5,000 companies. Half of the top 20 patent holders in the United States are members of the organization. In addition, many S&P Global 100 and Fortune 100 companies have joined.
"Electronic products manufactured by Foxconn are key pillars of many industries around the world. We have a responsibility to proactively protect the security of our customers and the innovation ecosystem, " said Dr. Lin Zhongyi, Director of the Central Intellectual Property Office of Foxconn. “Joining the LOT Network ensures that our resources are focused on product innovation rather than litigation disputes. We also encourage more industry leaders to take similarly proactive steps.”
Ken Seddon, CEO of LOT Network , said: "Foxconn's global influence and vast patent assets will directly benefit every member company in our community. With the official operation of Europe's Unitary Patent Court (UPC ) and the increasing activity of PAEs around the world , leading companies are increasingly required to focus on comprehensive intellectual property strategies. We are very pleased to welcome Foxconn to the group and recognize their commitment to innovation, leadership and risk management."
In the EMS field, four out of every ten electronic devices in the world are manufactured by Foxconn, and its products cover areas that are indispensable to modern life, such as smartphones, computers, automotive electronics, cloud infrastructure, medical equipment and renewable energy systems. Foxconn also has a large patent portfolio covering areas such as consumer electronics, cloud computing, network solutions and advanced manufacturing processes, and will contribute more than 55,000 patent assets to the LOT Network community in the future.
Recent changes in the patent litigation environment have further highlighted the importance of companies proactively managing their intellectual property. The LOT Network operates in the following way: if a patent owned by a member is transferred to PAE in the future , all other members will automatically obtain authorization for the patent, thereby effectively eliminating potential litigation risks. Foxconn's strategic joining of LOT Network demonstrates its firm commitment to protecting innovation and reducing risks in the face of changes in global intellectual property policies.
