Here’s my working definition of the confusing term: Patent Troll.
Definition: The patent troll does not research or develop the technology or any products related to its patent. Rather, the patent troll waits for others to independently develop the patented technology into useful products and to create a market for those products. Once the newcomers are locked-into the new technology, the patent troll seeks rents either through licensing or litigation.
Question: Is this type of activity bad?