Etymology

patent troll

pat·ent troll

Today it means: A company, person, etc., that owns and enforces patents in an aggressive and opportunistic manner, often with no intention of producing, marketing, or promoting the subjects of the patents. Full definition →

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The story

From patent + troll (“in folklore, a grotesque humanoid creature living in caves or hills, or under bridges”), a reference to trolls in folktales who block the path of travellers or threaten to harm them unless some payment is made.

Etymology from Wiktionary, CC BY-SA 4.0.