Rates Technology objected to a June 20 article, "Vonage Tastes Patent Leather," in which it was characterized as both a holding company with no operations and a "patent troll." Rates Technology, which was formed in 1983, states that it has products and services.
Additionally, according to Gerald Weinberger, the president of the company and the inventor of the patented "least-cost routing" technology at the heart of its claims against VoIP companies, Rates Technology has agreements with more than 140 companies covering its patents. Accordingly, to the extent that the term "patent troll" is used to describe a patent owner that did not invent its patents and does not have business operations, the term would be inapplicable to Rates Technology.
Also, Rates Technology has settled a patent infringement lawsuit against Google (GOOG:Nasdaq). Rates Technology has a separate claim against Vonage (VG:NYSE) seeking injunctive relief and more than $3 billion in damages, and a case against Cablevision (CVC:NYSE) seeking injunctive relief and as much as $2.8 billion.
The corrected article can be
TheStreet.com regrets these errors. ( Corrected July 18.)