I've always wondered if sublicensing was a way to get around this. Instead of owning the core technology itself, set up an offshore holding company to own the technology rights, then "license" them out. The main company probably can't be sued since they have a legal contract for the tech and if they go after the holding company, fine, the parent company can then "license" tech from another, similar holding company.
So I think what I'm talking about his more of a decoy than a privateer. I think of privateering as plausible deniability in attacking someone.
Whereas, what I'm suggesting is more structuring a business such that they can't be sued for patent infringement since they don't own the technology that is allegedly infringing. So if your company receives a cease-and-desist letter, your lawyers can respond with a contract from Core Technology LLC granting you license to use the technology as you deem if, and that the Patent Troll needs to contact Core Technology LLC if they have patent issues.
In the mean time, you can stop licensing from Core Technology LLC and instead move to a new vendor, Core Technology II LLC, who offers an improved product anyway.
The goal being to make it not worth pursuing your business.
You don't have to "own" tech in order to infringe a patent. Making a product that includes the technology protected by the patent, or selling it without there being a license (eg you buy it offshore where they're not covered by a particular patent, but you sell it where there is a patent covering that tech).
None of that matters in USA, as the threat of a lawsuit is threat of massive costs; ostensibly it doesn't matter that the court would award costs of a few $thousand against you if the lawyers to get you through the case cost $100,000s.
