posted Fri, 07/19/2013 - 11:27 by Dimitra Kessenides
Businesses Push for Anti-Patent Troll Measures
Will anything be done to effectively curb the activities of patent trolls?
It seems there's some momentum building from a group of 50 businesses and organizations, as Corporate Counsel reports.
The group--which includes the American Bankers Association, the Motion Picture Association of America, the National Association of Broadcasters, the National Retail Federation, and the National Association of Realtors--on Wednesday delivered a letter to the chairs and minority leaders of both the U.S. House and Senate, strongly urging for reform to curb troll activity.
The companies, the letter explained, increasingly are facing heavy costs from patent troll litigation. "Managing frivolous patent suits unfortunately has become an expensive distraction for a large cross section of American businesses," the companies said.
Since 2005, the number of defendants sued by patent trolls has quadrupled, the letter noted, according to Corporate Counsel. In 2012, patent trolls sued more than 7,000 defendants and sent thousands more threat letters. "This activity cost the U.S. economy $80 billion in 2011, and productive companies made $29 billion in direct payouts,” the letter said.
Corporate Counsel Despite unprecedented interest in so-called "patent trolls" coming from the public, Congress, and the White House, intellectual property lawyers have privately expressed great skepticism that anything will be done to curb the activities of these companies that exist primarily to buy up patents and assert them.