From the Hill: A new lawsuit filed in the Eastern District of Texas alleges that an unnamed company’s actions have made the U.S. the world’s third-largest bully, behind the United Kingdom and China.
According to the lawsuit, Intellectual Property Alliance is a company that has taken steps to prevent competition from emerging in the industry and has sought to restrict competition in the marketplace.
The suit alleges that IP Alliance’s actions were designed to limit competition by limiting the amount of intellectual property (IP) on its platforms, including for its online platform.
“In short, IP Alliance seeks to control the market for its products, services, and applications and to restrict or limit the availability of those products, products, and services to competitors, consumers, and the public,” the lawsuit says.
Specifically, the suit alleges the company has sought and received orders from a U.K. court, the Federal Trade Commission (FTC), the U,S.
Patent and Trademark Office (USPTO), the Department of Justice, and numerous state and local governments to block the release of IP-related information.
IP Alliance’s business model also is designed to prevent other competitors from launching and/or supporting IP-based products and services, the lawsuit alleges.
It is unclear how much the lawsuit has in terms of monetary damages, but if the allegations are true, the U.-based firm would be the third largest bully in the world.
As it stands, the company is not listed on any government website, and its stock is trading below $2.00 on the NASDAQ Stock Market.