http://www.theatlantic.com/business/archive/2013/03/death-to-patent-trolls-how-a-new-bill-could-slay-techs-worst-parasites/273610/
This was a very interesting and an exciting article to read because it finally showed something is being done about Patent Trolls. Patent Trolls are companies that buy up patents, not so they can innovate and create new products but so they can sue other companies that are innovating and make a quick buck. This has become a huge industry, costing American businesses over $29 billion dollars a year. This is a great inhibitor in our economy and stunts our innovation efforts.
Fortunately, Peter DeFazio has proposed a bill called the SHIELD ACT that would require companies that lose patent cases to cover the other companies legal fees. Now this may seem like a very minor issue but in actuality this could make a huge difference. This would instantly lower the amount of patent lawsuits because trollers would know if they lose they would not only lose their legal fees but also the other companies legal fees. While it would be best if we knew initially what a companies use for a patent is for, this should make a huge difference.
This was a very interesting and an exciting article to read because it finally showed something is being done about Patent Trolls. Patent Trolls are companies that buy up patents, not so they can innovate and create new products but so they can sue other companies that are innovating and make a quick buck. This has become a huge industry, costing American businesses over $29 billion dollars a year. This is a great inhibitor in our economy and stunts our innovation efforts.
Fortunately, Peter DeFazio has proposed a bill called the SHIELD ACT that would require companies that lose patent cases to cover the other companies legal fees. Now this may seem like a very minor issue but in actuality this could make a huge difference. This would instantly lower the amount of patent lawsuits because trollers would know if they lose they would not only lose their legal fees but also the other companies legal fees. While it would be best if we knew initially what a companies use for a patent is for, this should make a huge difference.
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