Washington — House Judiciary Chairman Bob Goodlatte along with IP Subcommittee Chairman Issa and Representatives Anna Eshoo and Peter DeFazio have announced they would introduce patent reform legislation, which passed the House last session with broad, bipartisan support. The measure is expected to attract broad support on and off the Hill as patent trolls expanded their frivolous lawsuits in recent years to the point that a recent MIT study attributed to such lawsuits a loss of at least $8.1 billion in venture capital investment over five years.
The Computer & Communications Industry Association represents companies that use patents, but have been fighting patent abuse for decades. The following can be attributed to CCIA President & CEO Ed Black:
“We need a patent system that promotes innovation — not retards it.”
“Curbing the abuse of our patent system is an economic issue that all industries and political parties can easily support. We appreciate Chairman Goodlatte’s leadership to rein in this exponentially growing drain on our economy by taking away some of the tools patent trolls are using to game the system.
“Many complain about gridlock in Washington. We finally have a bill that would create a bit of gridlock for patent trolls’ extortion schemes. This bill would make it less profitable for patent trolls to sue and set up speed bumps for those unfairly targeting everyone from legitimate US companies to those buying an item like a printer from a store. Goodlatte’s patent reforms would help bring some needed information to those unfairly targeted by patent trolls — requiring trolls to provide more details about their infringement claims and reveal who is paying for their legal antics.”
