Patent Reform Revived in Bipartisan PATENT Act
A group of influential U.S. senators introduced new bipartisan patent reform legislation aimed at reining in so-called patent trolls.
April 30, 2015 at 09:40 AM
4 minute read
A group of influential U.S. senators introduced new bipartisan patent reform legislation Wednesday aimed at reining in so-called patent trolls, a move that signals the patent reform debate stalled in Congress last year is now likely to move quickly.
The Senate bill, the Protecting American Talent and Entrepreneurship (PATENT) Act, is intended to thwart abusive tactics used by nonpracticing entities that acquire and assert patents in order to get licensing fees from businesses that agree to pay simply to avoid the high cost of litigation. It is supported by Sens. Chuck Grassley, R-Iowa, chairman of the House Judiciary Committee, Patrick Leahy, D-Vt., John Cornyn, R-Texas, Chuck Schumer, D-N.Y., Mike Lee, R-Utah, Amy Klobuchar, D-Minn., and Orrin Hatch, R-Utah.
Congressional efforts to curb patent trolls were abruptly cut short last year when then-Senate Majority Leader Harry Reid, D-Nev., pulled the bill just as it was about to head to the Senate floor. The House of Representatives version, the Innovation Act, which passed overwhelmingly last year, was reintroduced in February, although it has met with opposition this year.
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