What TAR, NAR, and the federal government are doing about the non-producing entities that are suing real estate brokerages.
Reports show some of the companies being sued are RE/MAX, Keller Williams, and Centry 21.
According to Inman more than a dozen real estate Brokerages have been sued for patent infringements from a company that does not maintain a website or offers any products or service but holds patent on a real estate disclosure reporting method.
A patent troll, also called a patent assertion entity (PAE), is a person or company who enforces patent rights against accused infringers in an attempt to collect licensing fees, but does not manufacture products or supply services based upon the patents in question, thus engaging in economic rent-seeking.
Watch this three-minute video to learn what TAR, NAR, and the federal government are doing about these non-producing entities that are challenging real estate businesses.