The LOT Network membership will enable Landis+Gyr to remain at the forefront of innovation in sustainable energy management technology, rather than focus on patent litigation.
CHAM, Switzerland, Jan. 9, 2023 /PRNewswire/ -- Landis+Gyr (SIX: LAND), a leading global provider of integrated energy management solutions, has joined LOT Network, the international, non-profit community of companies working together to protect themselves against litigation brought on by patent assertion entities (PAEs, also known as "patent trolls"). Joining LOT Network will enable Landis+Gyr to continue staying at the forefront of energy management technology, rather than focus on frivolous patent litigation. Their membership in the organization will also allow the Company to continue its long tradition of protecting a pipeline of innovations that will further strengthen its position as a leading global innovator in future energy consumption.
For more than 125 years, Landis+Gyr has been an industry leader in energy management solutions by helping utility companies and end consumers alike to manage energy better. In its past two financial years, the company has invested around 11% of its revenues in R&D to support its transformation towards grid edge intelligence and smart infrastructure. Landis+Gyr has entered a strategic partnership with Google Cloud and has established an extensive portfolio of electric vehicle software and charging capabilities.
"As a global Company that is laser-focused on building an innovative and proven portfolio of software, services, and other intelligent technologies, it's paramount that we take proactive measures to protect ourselves and our more than 2,700 patent assets from the threat of patent litigation brought on by PAEs," said James Eilertsen, Head of Group Intellectual Property at Landis+Gyr. "Joining LOT allows us to focus on what matters most ? creating a greener tomorrow through our suite of innovative products and technologies."
Innovation in the energy industry is accelerating at a rapid speed due to the adoption of emergent technologies from cybersecurity and EV tech to smart devices powering smart cities and much more. The companies within LOT Network understand that the convergence of industries like energy management and software can expose innovators like Landis+Gyr to one of a PAE's targeted sectors: high-tech.
"Companies lose hundreds of millions of dollars when they're forced to pay a PAE ? money that could have been better spent on R&D, recruitment, or returning value to shareholders," said Ken Seddon, LOT Network CEO. "As industries converge with technology, their exposure to PAEs grows dramatically, and it's imperative they take steps to mitigate those risks and protect their entire ecosystem from unnecessary PAE litigation. We commend Landis+Gyr on joining LOT Network and sending a clear message that the LOT community as well as their customers are protected."
LOT Network members agree that if, and only if, any member's patent assets fall into the hands of a PAE, all the other members of the community receive a free license, thereby immunizing them against PAE litigation from those assets. Members still retain traditional uses of their patents and are still free to sell or transfer their patents, participate in patent pools, license them for revenue, or assert them.
Landis+Gyr is a leading global provider of integrated energy management solutions. We measure and analyze energy utilization to generate empowering analytics for smart grid and infrastructure management, enabling utilities and consumers to reduce energy consumption. Our innovative and proven portfolio of software, services and intelligent sensor technology is a key driver to decarbonize the grid. Having avoided more than 9 million tons of CO2 in FY 2021, Landis+Gyr manages energy better ? since 1896. With sales of USD 1.5 billion in FY 2021, Landis+Gyr employs around 6,800 talented people across five continents. For more information, please visit our website www.landisgyr.com.
About LOT Network
LOT Network is an international community of the world's leading high-tech companies committed to protecting its members from costly litigation from patent assertion entities (PAEs). LOT Network currently protects more than 2,600 members in 56 countries from litigation from over 3.6 million worldwide patents and counting. Members include market leaders such as IBM, Toyota, JP Morgan Chase, Canon, Google, Tesla, Disney, Cisco, Amazon, Microsoft, BP, Alibaba, and Dow, as well as innovative companies across all high-tech industries.
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