TORONTO--(BUSINESS WIRE)--Givex, the cloud-based customer engagement solution that helps to streamline business operations from end-to-end, announced today that it joined LOT Network in a bid to combat the growing threat posed to its business and its customers by patent assertion entities (PAEs, or “patent trolls”). Givex is the first Canadian retail tech company to join LOT Network and is the first gift card tech member.
LOT Network is the international community of the world’s leading high-tech companies committed to protecting its members from costly PAE litigation. With 2.5 million patents in the network and counting, members include global market leaders such as American Express, Alibaba, Microsoft, Volkswagen, Tesla and Amazon.
Since the start of this global pandemic, more businesses have been turning to technology to keep customers and employees safe. Givex solutions, such as online ordering and contactless payment, have become essential for many retailers and restaurants in this respect.
By joining LOT Network, Givex is protecting its clients from exposure to patent troll lawsuits that could arise from using its products. Members agree that if and only if a member’s assets fall into the hands of a patent troll, they will grant a license to all other members — thus rendering them immune from patent troll litigation using those assets. All traditional uses of patents, such as selling them or using them to sue other companies, are retained.
Such preventative measures are warranted, considering the risk of patent trolls tying up businesses in costly and disruptive litigation. A high-profile case from 2011 involves one such patent troll suing a national retail chain for allegedly violating two patents that cover methods for loading money onto gift cards and activating them at the point of sale.
“In the same way that our clients are using our technology to protect their staff and customers, we are proactively taking measures to protect our clients and ensure their continuity of service,” says Brittain Brown, President, Givex. “For our clients’ peace of mind, our solutions now come with free immunization to more than 2.5 million assets should they ever fall into the hands of a patent troll.”
“We are pleased to welcome Givex, a customer-focused, innovative retail tech company, into LOT Network,” said Ken Seddon, CEO of LOT Network. “Their membership is another example of their proactive, customer-first mentality. This is particularly important at a time when retailers are managing the additional challenge of a global health crisis.”
People are now more acutely aware of the unexpected events that can shake up their lives and entire industries. With these added risks, it is even more important that brands do everything they can to safeguard their business. Membership in LOT Network is one such avenue to neutralize the threat of patent trolls.
About LOT Network
LOT Network is an international community of the world’s leading high-tech companies committed to protecting its members from costly patent troll litigation. LOT Network currently protects more than 800 members in 36 countries from litigation from over 2.5 million worldwide patents and counting. Network members include market leaders such as IBM, Toyota, Visa, Canon, Google, Tesla, Cisco, Amazon, Microsoft, Alibaba and Salesforce, as well as innovative companies across industries.
Givex is a global cloud-based operations management solution designed to streamline business efficiencies and generate valuable and actionable customer data. Since its founding in 1999, Givex has provided operational intelligence across a wide variety of industries, from restaurant and retail to hospitality and the service sector, offering a fully integrated suite of customizable products, including gift cards, loyalty, point-of-sale (POS) systems, tableside ordering and analytics. Givex's Uptix™ ticketing solution transforms traditional sports or event tickets into a mobile interactive platform, providing event managers with new insights into their customer base and the ability to elevate the fan experience. With more than 16 billion transactions conducted across more than 55 countries, Givex is at the forefront of how brands will compete for customers now and in the future. For more information about Givex, please visit http://www.givex.com/.