There’s a silent drain on businesses across the country: patent trolls. These companies do not make or create anything. They exist solely to prey on legitimate and productive businesses through the threat of litigation. And they’re doing real harm to our economy, to the tune of $80 billion every year.
If you’ve heard about patent trolls, you already know that they hurt businesses, drive up prices for consumers and are a drain on our economy to the tune of $80 billion annually. What you may not know is that they are no longer limiting their targets to software developers and high-tech companies.
There’s a growing and pernicious threat facing Connecticut’s businesses: Patent trolls. Using the threat of litigation, patent trolls are targeting an increasingly broad array of businesses – moving on from just technology companies to Main Street businesses – and sucking billions out of the economy while doing it.
Uber presents Colorado with one of the biggest tests in terms of making the the most innovative state in the nation. If it is truly serious about transforming itself into the best state for entrepreneurs and Internet startups, the choice is clear.
It seems impossible these days to find an issue that brings together members from the Democratic and Republican sides of the aisle. Fortunately, bipartisan agreement is beginning to form around stopping patent trolls.
There were a total of 121,247 patent grants issued from January 2011 to December 2011, according to the U.S. Patent and Trademark Office.
It seems impossible these days to find an issue that brings together members from both the Democratic and Republican sides of the aisle. In a rare exception to this rule, last month Republican Rep. Darrell Issa and Democratic Rep. Judy Chu introduced bipartisan legislation to help businesses here in California and across the country better protect themselves from patent trolls seeking to exploit and profit off of others’ ideas.
The future of the global economy is at stake. With both the United States and the European Union economies generating over $15.6 trillion in GDP and accounting for about half of the entire world GDP, we must pay close attention to negotiations for the Trans-Atlantic Trade and Investment Partnership.
In April, Dallas-based Neiman Marcus became the newest target of a growing industry designed to cripple companies with litigation on the basis of undisclosed patent infringements. IP Nav, also a Dallas-based “company,” sent a letter to Neiman’s claiming patent infringement on unrevealed “valuable patents in the field of automation of application programs.”
In February, homegrown Vermont success story Green Mountain Coffee Roasters was sued by an entity called EMG Technologies. It claimed the Waterbury company’s website infringed EMG’s patent on an “apparatus and method of manipulation a region on a wireless device screen for viewing, zooming, and scrolling internet content.”
Today, President Barack Obama will deliver his fifth State of the Union address to the American people. Since that first address in 2009, the Internet has become an even more ubiquitous part of American life. An estimated 244 million Americans used the Internet in 2012 – 78 percent of the total population – growing more than 10 percent in those four years. So what is the State of the Internet in 2013, as the President embarks on his second term in office?
Washington, DC – IA President & CEO Michael Beckerman released the following statement on the joint Energy and Commerce Subcommittee on Communications and Technology and the Subcommittee on Consumer Protection and Commerce of the Committee hearing entitled “Fostering A Healthier Internet To Protect Consumers”: “Section 230 enables the best of the internet. It allows internet… Read more