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Patrick Lavelle
Chief Executive Officer & Director, VOXX INTERNATIONAL CORP

Pat Lavelle on Patent Trolls

🎥 Mar 04, 2015 📺 Innovation Movement ⏱ 1m 👁 276 views
In his own words, President and CEO of VOXX Patrick Lavelle tells how patent trolls have hurt U.S. businesses.
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About Patrick Lavelle

Patrick Lavelle, CEO and Director of VOXX International, has spoken about the company's expansion into new product categories and technologies. At the 2014 CES press conference, Lavelle introduced the company's new direction under VOXX Electronics, highlighting partnerships with iLock and ic360 to bring biometric iris authentication and 360-degree video technology to consumers. He described the Myris iris scanner as a solution to identity theft, noting that the false acceptance rate for iris scanning is one in 2.25 trillionikuha. Lavelle also mentioned the company's entry into the electric vehicle category with an EV charging system. Lavelle has also addressed the impact of patent litigation on his company. In a 2015 interview, he stated that patent trolls "put a freeze on innovation" and described their tactics as "almost like extortion." He said that VOXX had spent over $26 million on expenses related to patent trolls, money he argued could have been used for research and development. In a 2023 Marist College alumni address, Lavelle reflected on his career and philanthropy, including the dedication of Lavelle Hall, named for his parents. He credited his Marist education and the school's emphasis on ethics for his success, stating, "say what you're going to do and then do what you say."

Source: AI-verified profile updated from Patrick Lavelle's recent appearances. Browse all interviews →

Transcript (1 segments)
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Patrick Lavelle0:05
It puts a freeze on innovation and it's almost like extortion. The patent trolls know the cost of patent litigation, so they will come in and offer a number. If it takes two and a half million dollars for a patent lawsuit, they'll offer a five hundred thousand dollar settlement. Any CEO of any company knows that he could spend two and a half million dollars and not get anything, might as well spend five hundred thousand. It's wasted money to a corporation, to an R&D effort. In a case like our company, our expenses for patent trolls are over 26 million dollars today. That money could have been used for innovation, new product development that would fuel new sales and the health of the company. That's how patent trolls affect innovation.