Luma Labs is a small company that sells a camera sling with a sliding clip. When a competitor of theirs filed for a patent on the idea, they weren't concerned. After all, Luma knew of prior art for their mechanism stretching all the way back to 1885. So they were surprised when the USPTO recklessly granted the patent to their competitor. And they were aghast when their lawyers explained that getting the patent overturned in the course of a lawsuit would bankrupt their company.
So they're giving up.
In short, the idea of a sliding camera sling isn’t an amazing new invention. It’s just a really good idea that’s been around for a while and which has been iteratively developed. Neither we nor our lawyers believed that the USPTO would grant a patent for the claims related to this concept. It was a surprise, then, when our competitor was granted a patent covering the concept on November 1st, 2011. To say that we’re disappointed that the USPTO couldn’t find the prior art around the idea is an understatement.
Our disappointment doesn’t matter much in the scheme of things, however. Our competitor now has a legal tool and we’re pretty sure that they desire to use it. This is, as they say, a problem. We and our counsel are more than confident that we can defend ourselves, and will do so vigorously if necessary. On the other hand, we’re a very small company that sells our products in limited volumes and mounting such a defense would consume the majority of our resources. After all, it took three years to rescind a patent about a method of using a swing. In other words, we have a Hobson’s choice on our hands. We could very well lose everything even if we won.
Therefore, we’re acting unilaterally and conceding the market by immediately discontinuing the Loop and LoopIt. Full stop. We apologize for the sudden nature of this decision and our implementation of it, but we feel like our options on this matter are limited.
They've got another camera strap idea that they're hoping to bring to market. But of course, they'll only be able to sell it until the USPTO recklessly grants another ridiculous patent against it.