“For years, patent assertion entities – otherwise known as patent trolls – have been targeting businesses large and small with frivolous lawsuits, threat letters, and intimidation tactics. Lately, the problem has been getting worse, with 60% of new lawsuits filed by patent assertion entities, up from 25% in 2007.
Today, the House Judiciary Committee took a significant step toward curbing the worst patent troll abuses when it approved the Innovation Act by a strong bipartisan vote of 33-5.
The legislation is sponsored by Chairman Bob Goodlatte and is co-sponsored by fellow Judiciary Committee members Zoe Lofgren (D-CA) and George Holding (R-NC), as well as Congresswoman Anna Eshoo (D-CA), among others. The legislation dries up the financial incentives that have allowed patent trolls to thrive and significantly increases transparency.
Let me thank the House Judiciary Committee members for their leadership. Cisco stands ready to work with our leaders in Congress as the bill moves to the House floor and the ultimately over to the Senate for consideration.”