NEW YORK, Oct. 19, 2021 /PRNewswire/ -- MongoDB, Inc. (NASDAQ: MDB), the leading, modern general purpose database platform, today announced it has joined LOT Network, a non-profit community of companies that builds a protective barrier for its members against patent assertion entities (PAEs) more commonly known as "patent trolls".
PAEs acquire patents via third parties, and then try to make money through litigation against potential infringers. This is not only costly, it directly harms innovation. LOT Network covers more than 3.1 million patent assets from 51 countries. If any one of them is acquired by a PAE, LOT Network members receive a license to that patent, which means they will be protected from any potential litigation.
"Our company has demonstrated not just through R&D, but across business models, policies and processes that it has a culture of investing in and driving innovation. By joining LOT Network, MongoDB is proactively taking measures to protect itself against litigation from PAEs alongside its 1,700-plus members," said Andrew Stephens, MongoDB's General Counsel. "We want to be a champion for the fair use of intellectual property, and we encourage other companies in our industry to join LOT Network to make our industry safer."
"MongoDB is a welcome addition to LOT Network's community of more than 1,700 companies," said Ken Seddon, CEO, LOT Network. "Since its founding, MongoDB has been at the forefront of open-source software, including building and operating one of the most popular modern databases in the world. By joining our non-profit community, they are providing a way for companies to mitigate risk from PAEs, which is in direct alignment with the mission of LOT and further strengthens our collective ability to protect innovation."
About MongoDB MongoDB is the leading modern, general purpose database platform, designed to unleash the power of software and data for developers and the applications they build. Headquartered in New York, MongoDB has more than 29,000 customers in over 100 countries. The MongoDB database platform has been downloaded over 200 million times and there have been more than 1.5 million registrations for MongoDB University courses.
About LOT Network LOT Network is the largest international community of the world's leading high-tech companies committed to protecting its members from costly litigation from patent assertion entities (PAEs). LOT Network currently protects more than 1,700 members in 51 countries from litigation from over 3.1 million worldwide patent assets and counting. Members include market leaders such as IBM, Red Hat, Toyota, Visa, Canon, Google, Tesla, Cisco, Amazon, Microsoft, Alibaba and Salesforce, as well as innovative companies across industries.
This press release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning potential investments and future litigation. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project," "will," "would" or the negative or plural of these words or similar expressions or variations. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control including, without limitation: the impact that the precautions we have taken in our business relative to the ongoing COVID-19 pandemic may have on our business; our ability to continue to build and maintain credibility with the developer community; our ability to protect ourselves against litigation and claims; our ability to add new customers or increase sales to our existing customers; the growth and expansion of the market for database products and our ability to penetrate that market; and our ability to manage our growth effectively and successfully recruit and retain additional highly-qualified personnel. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission ("SEC"), including under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2021, filed with the SEC on September 3, 2021, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.