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Ding, dong, the most prolific patent troll is dead.
Shipping & Transit, which filed more than 500 patents suits, has filed for bankruptcy. The company has done nothing but litigate for years.
Its most famous claim to fame was winning the "Stupid Patent of the Month." That and its $1 portfolio will get you a cup of coffee.
34 Patents = $1
According to its bankruptcy filing, Shipping & Transit had 34 patents worth a total of $1. That's as close to worthless as it gets.
"Indeed, they have always been worthless, except as litigation weapons," the Electronic Frontier Foundation said. "In the hands of their unscrupulous owners, they caused enormous damage, costing productive companies more than $15 million in licensing fees and untold legal expenses."
The EFF called the entire portfolio the stupidest patent of the month, although it could have won for the decade. The ezine said it was the top patent litigator in 2016, targeting mostly small businesses.
Last year, however, the company started losing cases. That changed everything.
Dying Business Model
EFF attorney Daniel Nazar said Shipping & Transit is part of a dying business model.
"Most of S&T's patents are expired, and defendants had managed to get fees in a couple of cases," he told Ars Technica.
He said it worked for 10 years. But one adverse ruling -- like a fees and costs award for $119,712 -- slowed the company down.
Like down to $1.