RPX Corporation was founded in 2008 to provide corporate legal departments with new technology-enabled services to reduce cost and risk and to improve transactional efficiency.
The company’s first services were aimed at rationalizing the process of patent licensing – in particular, the expensive and wasteful infringement litigation costs brought on by non-practicing entities (NPEs, also known as “patent trolls”). RPX’s pioneering defensive patent acquisition network and its unique patent litigation insurance products use data, market-based tools, and collaboration to efficiently mitigate risk. To date, RPX has cleared more than 18,500 patents, achieved over 1,400 litigation dismissals and saved its more than 300 clients $3.6 billion dollars in avoided legal costs and inflated settlements.
In 2016, RPX extended its services into the related legal area of eDiscovery when it acquired Inventus Solutions, Inc. Inventus is a leading international Discovery management provider focused on reducing the costs and risks associated with the Discovery process through the effective use of technology solutions. The Inventus offering includes Hosting and Analysis, Managed Review, and Workflow Tools.
RPX’s combined offering of patent risk management and Discovery management reduces the risk and cost for corporate legal departments. By providing powerful technology and expertise-based solutions, RPX is able to make legal services more efficient by lowering the unnecessary costs associated with legal transactions and patent licensing.
RPX provides solutions that rationalize and lower the costs of patent licensing by reducing the unnecessary legal costs associated with infringement litigation brought by NPEs.
The company’s core defensive patent acquisition service uses market-based principles to buy or license patents preemptively, before they can become expensive sources of litigation for clients. Members of the RPX client network pay an annual fee. We then use this aggregated capital to acquire potentially problematic patents and rights from the pre-litigation market and out of active litigations. Members of the network receive a license to every asset acquired. RPX never litigates or asserts the patent assets it purchases.
In addition to our core patent acquisition service, RPX also facilitates large-scale syndicated licensing transactions that can include non-members and members (who make contributions beyond their regular subscription fees).
RPX also offers a suite of unique patent litigation insurance products. The policies offer a variety of coverage options, and all are written on A rated paper and backed by a Lloyd’s underwriting syndicate.
As part of all its services, RPX provides clients with a unique trove of in-depth industry data, analysis, and market intelligence. The company also offers strategic patent advisory services.
The RPX network has grown to comprise more than 300 clients in sectors including automotive, consumer electronics and personal computing, E-commerce and software, financial services, media content and distribution, mobile communications, networking, and semiconductors.
Inventus: Legal Discovery Management
The acquisition of Inventus has expanded the suite of technology-enabled services RPX provides to help legal departments reduce risk and costs associated with the processes they manage every day. Inventus provides intelligent document analysis, hosting and managed review to its clients for litigation and investigations. Inventus serves industries across the board from Financial Services, Energy, Healthcare, Retail, Aerospace and Defense, and Technology.
The Discovery management solution provides three main services:
1) Hosting/Analysis, which involves identifying, collecting and securely hosting potentially relevant data.
2) Reviewing and coding relevant documents by contract attorneys.
3) Workflow Tools involving proprietary middleware to enhance client efficiency.
Specifically, Inventus Luminosity® reduces cost and risk by processing data once, culling data collection, and streamlining the review process. M3: Multi Matter Management®, the latest offering from Inventus, is a Discovery management solution that lets corporations recycle data, coding, and valuable attorney work product to save time and expense. Both products exemplify Inventus' technology-enabled approach to enhanceing the legal discovery process and creating a more cost-effective discovery services practice.
Inventus expands RPX’s growth strategy and its ability to serve a broader corporate legal market opportunity. While the RPX core business will focus on continued defensive patent buying and broadening the insurance client base, the addition of Inventus provides technology solutions that make legal activity more efficient by lowering the unnecessary costs associated with legal transactions.