Today, The Internet Association signed on to a letter with 23 other organizations that represent tens of thousands of businesses employing tens of millions of Americans, as well as public utilities and public interest groups. The letter, sent to Judiciary Committee leaders and members, calls on Congress to provide relief from patent abuse by creating an efficient, inexpensive alternative to litigation for fighting the invalid business method patents commonly asserted by PAEs.
EXCERPT: The patent system plays an important role in promoting innovation in the United States. Increasingly, however, patent assertion entities (PAEs), commonly called patent trolls, are exploiting the patent system for financial gain to the detriment of innovation. PAEs do not make or sell products, nor do they develop new technologies—their business model is based purely on patent litigation and patent licensing. They impose huge costs on American businesses (at least $29 billion in 2011 alone) that drain funds from job creation. …We strongly urge you to support a package of reforms that would expand CBM review in order to address the low-quality patents that are fueling the PAE litigation explosion and harming American companies.
To view the letter, click here.
