In an effort to drive awareness towards the growing Patent Troll epidemic, RevoStock.com is sharing their Patent Troll lawsuit story as well as offering the 40 for $40 Patent Troll Awareness Bundle including Stock Video Footage, After Effects templates, Music, Sound FX and Motion Templates. This collection of 40 professional media files can be used in all sorts of creative projects from websites to broadcast and film. The retail value of the collection is over $1000 and it is available for purchase until March 5th. For every 500 purchases of the bundle, RevoStock will add another premium stock media file which may then be downloaded by anyone who purchased the bundle.
RevoStock was founded in 2006 as one of the first microstock media websites that allowed creatives to upload and sell their professional level stock video footage at microstock (smaller and more affordable) price levels. These short, pro-quality video clips can be used in all types of media production. Media from RevoStock has been purchased and used by almost every major cable and broadcast network.
After launch, the company quickly expanded to royalty-free music and soundFX, but hit their stride when they started to offer templates for the Adobe After Effects software package. No one else was selling After Effects Templates. We started a brand new market, and I had no idea it would grow so fast, says Craig Lillard, founder of RevoStock. After Effects Templates include pre-made commercials, trailers and animated logos which can be quickly and easily customized and personalized by the end-user using Adobes After Effects motion graphics software.
This new template market allowed the company to achieve constant and steady growth without any outside investment until February of 2012 when notice of an impending lawsuit was served. Before we were sued by a company many call a Patent Troll, I didnt even know what a Patent Troll was, says Craig. Dictionary.com defines a Patent Troll as:
a company that purchases a patent, esp. from a bankrupt firm, and then sues another company claiming that one of its products infringes on the purchased patent.
The patents in question are usually software based patents with broad claims allowing the patent to reasonably be asserted against any number of potential infringers. In most cases, these trolls are wanting a quick settlement from the defendant. Many large defendants are willing to settle because it is more cost effective than going to trial. Many small defendants are forced to settle even if they believe they do not infringe, because they cannot afford the enormous cost of defense.
After reviewing the patent in question, Craig was confident that his company did not infringe. He explains, While I was confident we did not infringe on the patent and specifically the claims in question, I learned that the average cost to go to trial and defend oneself was upwards of 2 million dollars. As a small self-funded company, there was no way we would be able to afford to have our day in court, and I knew that just to stay in business, our legal bills would be through the roof. I also discovered that we were being sued in the Eastern District of Texas. This district has historically been a favorable and popular location for patent trolls to bring their cases. In other words, it was increasingly apparent that the deck was highly stacked against us.
The trial was set for November of 2014, almost 3 years from the day the suit was filed. While Craig and his company had previously been focused on innovation and growth, he was now focused almost solely on the survival of the company he had built from the ground up. When you are a small self- funded business, without your own legal team, lawsuits of this magnitude affect you on so many different levels. It isnt just a financial thing. I can honestly say it was the most difficult 2 years of my entire life, says Craig.
After almost 2 years and many challenging milestones, in November of 2012, the lawsuit was dismissed. However, the psychological and financial stress of the lawsuit could not be recouped.
Craig and RevoStock are sharing this story as well as offering their Patent Troll Awareness Bundle to drive awareness towards this growing problem, that is stifling innovation and crushing small businesses.
The 40 for $40 Patent Troll Awareness Bundle is available through Wednesday March 5th. For every 500 purchases of this bundle, RevoStock will add another premium quality media file which may then be downloaded by anyone who purchased the bundle. These additional media files will come from their vast collection of over 650,000 pre-screened stock media files and could include stock video, templates or audio. Follow @RevoStock on twitter or Facebook.com/RevoStock for updates
To learn more about RevoStocks battle, Patent Trolls and what you can do about them, read the whole story here or buy the Patent Troll Awareness Bundle here!
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In an effort to drive awareness towards the growing Patent Troll epidemic, RevoStock.com is sharing their Patent Troll lawsuit story as well as offering the 40 for $40 Patent Troll Awareness Bundle including Stock Video Footage, After Effects templates, Music, Sound FX and Motion Templates. This collection of 40 professional media files can be used in all sorts of creative projects from websites to broadcast and film. The retail value of the collection is over $1000 and it is available for purchase until March 5th. For every 500 purchases of the bundle, RevoStock will add another premium stock media file which may then be downloaded by anyone who purchased the bundle.
