A group of patent lawyers in Washington said at a panel discussion Thursday that Congress should solve the problem that "patent trolls" pose to innovation, and urged legislators to pass the SHIELD Act to protect American companies from meritless lawsuits.
Organized by the Computer & Communications Industry Association, the event was held on Capitol Hill a day after representatives Peter de Fazio (D-Ore.) and Jason Chaffetz (R-Utah) introduced a bill to force patent trolls, more formally known as non-practicing entities, to take financial responsibility for what their many critics say are their frivolous lawsuits. According to a recent Boston University study, trolls cost operating companies $29 billion in direct costs in 2011.
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