Senators ramp up push for PATENT Act
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Today Senators John Cornyn (R-TX) and Chuck Schumer (D-NY) hosted a Google Hangout with entrepreneurs who have first hand experience dealing with "patent trolls"---firms that come in and sue companies over "patent violations" that don't actually exist. The Hangout was part of a renewed push in the Senate to achieve meaningful patent reform.
The PATENT Act is the latest in a long history of efforts to prevent patent trolls from shaking down small startups. The bipartisan bill would help protect innovators from the crippling pre-litigation costs (think discovery, which in patent cases takes anywhere from 3 to 5 years) that trolls use as leverage against startups that can more easily afford a payout than they can afford years of legal fees.
Until very recently, patent trolling was an issue that mostly affected the technology and pharmaceutical industries; now, however, patent trolls are going after "main street"---think small business owners, startups, and independent inventors---and end users, meaning that people who simply use allegedly patented technology are being hit with bogus lawsuits.
You can watch the Hangout here: