Is legislation aimed at "patent trolls" the best way to address concerns regarding the role of patents in today’s economy? That is the key question behind the Saving High-Tech Innovators from Egregious Legal Disputes Act of 2013 (SHIELD Act), currently being considered by the House Judiciary Committee in Congress.
Patent trolls, also sometimes referred to as nonpracticing entities or Patent Assertion Entities, are companies that purchase and monetize patents, but not by making or selling products embodying those patents’ technologies. Instead, patent trolls acquire patents for the express purpose of generating license income through a campaign of negotiating licensing agreements with companies that do make or sell products. Companies that refuse to license may find themselves involved in patent infringement litigation against a PAE. Whether deserved or not, it is this practice that has caused patent trolls to become a flash point in discussions surrounding patent reform in the U.S. The SHIELD Act proposes legislation specifically aimed at curtailing NPE activity.
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