Technology companies often sell their patents to assertion entities, otherwise known as “patent trolls,” according to a study published on Oct. 20 by law professor Brian Love and the law firm Richardson Oliver Law Group.

What causes operating companies to sell their patents? Our intuition tells us that patent sales take place when the seller is in financial distress or the company is underperforming. We asked ourselves whether data aligned with our intuition.

Our Q3 sales analysis shows a slowing in patent purchases. The first half sales were 139% of 2014 sales, suggesting a big year for sales. Q3 shows a slowdown matching Q3 2014. We have seen Q3 slowdowns before, but this slowdown misses the first half 2015 sales boost. In Q3, we saw 24 sales compared with 25 sales for the same period last year. Q4 will tell us whether the first half of 2015 was an anomaly.