Proposed Innovation Act may lessen ‘patent trolling’ burdens

In recent years, businesses have had to spend billions of dollars to fight for their intellectual property against patent trolls, which are companies that purchase patents on technologies, but don't actually design goods, Verge reported. The source added that in 2011 alone, companies and individuals who lost these cases paid $29 billion.

Earlier this year, President Barack Obama mentioned that patent trolling reform needed to happen in 2013, and it might in the form of the "Innovation Act." The House of Representatives will vote on the bill sometime this week.

"We hope that together we can achieve a consensus product that will successfully target abusive behavior and be a force for progress for the full range of American innovation," the Innovation Alliance told the Hill.

Led by Bob Goodlatte of Virginia, the Innovation Act already passed the House Judiciary Committee, according to another Verge article. One of the provisions in this bill would make "fighting patent lawsuits less expensive and allow defendants that win a case to potentially recover their court costs," Verge contributor Jacob Kastrenakes writes.

If the bill passes, companies that try to sue for taking another's intellectual property will have to utilize products and relevant patents, allowing demands to be made more clear. In the past, alleged patent trolls would only rely on the registered patent to make their case. Businesses that need representation for future intellectual property cases may want to reach out to a business lawyer in Phoenix.

Categorised in: Intellectual Property Law

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